Eurozone exiting recession

Forecasts released by the European Commission say that the Eurozone is emerging from recession. 

“The economy appears to be at a turning point,” the commission said.

It forecast growth of 0.2 per cent for the July to September quarter, with Germany and France continuing to grow and Italy exiting recession.

According to the Commission: “The economic situation has improved markedly since the second quarter, pointing to a better growth outlook for the second half of the year.”

Government stimulus was pointed out as the main trigger to have boosted overall economic activity.

Earlier this month, the European Central Bank also gave a positive forecast for economic growth in the Eurozone.

The head of the bank said the Eurozone economy was entering a period of “stabilisation and gradual recovery”.