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Spain exits recession, raising timid hopes for Europe

AP Photo

Spain inched out of its two-year recession with timid growth in the third quarter, the country’s central bank said on Wednesday, fuelling fragile hopes of a broader eurozone recovery.

Posted: October 23rd, 2013 in Latest Business Stories | Read More »

Ireland officially exits recession

AFP FILE PHOTO

Bailed-out eurozone nation Ireland exited recession in the second quarter with economic growth of 0.4 percent, official data showed on Thursday.

Posted: September 19th, 2013 in Latest Business Stories | Read More »

Eurozone recession end is cold comfort for Greece

An elderly man carries shopping bags at Athens' central fruit and vegetable market, on Tuesday, Aug. 13, 2013. Greece is beating its budget targets by a wide margin so far this year, a sign the country's painful cost cuts and tax increases, combined with international bailout funds, are paying off. AP

Europe’s recession is over, thanks to second-quarter growth in big countries Germany and France and an improvement in some of the smaller ones that have been hit hard by the financial crisis. But the pain is not over as many still have mountains of public debt to pay off and record unemployment. It’s also uncertain how long a recovery can be sustained.

Posted: August 14th, 2013 in Latest Business Stories | Read More »

Eurozone’s longest-ever recession comes to an end

AP FILE PHOTO

Official figures confirm that the recession in the eurozone came to an end in the second quarter of the year. Eurostat, the European Union’s statistics office, says the 17 European Union countries that use the eurozone saw their collective economic output grow by 0.3 percent in the April to June period from the previous quarter.

Posted: August 14th, 2013 in Latest Business Stories,Photos & Videos | Read More »

Eurozone jobless down for first time in 2 years

Unemployed Greeks wait in a long line at a state labor office to collect benefit checks, in Athens, in this file photo. Greece and Spain have the highest unemployment rates in the eurozone, with both countries also mired in a youth unemployment crisis, according to figures released by Eurostat, the EU's statistics office, Monday July 1, 2013, which reveals that unemployment across the 17 European Union countries that use the euro hit another all-time high in May 2013. AP

Further evidence emerged Wednesday that the eurozone economy is on the mend after struggling with a recession that’s seen unemployment edge toward the 20 million mark.

Posted: July 31st, 2013 in Latest Business Stories | Read More »

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