Euro Area Economy Finds Its Way out of Recession, but Recovery Is Likely to Be Weak through End of 2013
The recovery process is continuing across Euro Area economies. The second quarter GDP reading was not only positive, but its subcomponents provided more good news. Though other key indicators like industrial production and retail sales are showing mixed results, in general, the region as a whole and most of its major economies are enjoying modest but broad growth. Even labor market conditions are starting to improve with the rate of job losses starting to come down a little in the second quarter for most countries. Unemployment rates are also holding steady and in some cases are starting to fall.