Glance: Economic growth around the world
Glance: Europe emerges from recession, but still trails US, Japan in second quarter growth
The recession in the 17-country eurozone ended in the second quarter of the year. Its growth is weak, however, and lags the rates of other major developed economies.
Here are the quarter-on-quarter growth rates for the world's largest economies:
Country | Q2 growth vs Q1 | Explanation |
United States | 0.4 | Steady growth, though jobs gains still patchy |
China | 1.7 | High growth but slowing as govt tries to rein in easy credit market |
Japan | 0.6 | More government spending, weaker yen has boosted growth |
Eurozone (17 countries) | 0.3 | Less focus on debt cuts, ECB support have ended recession but recovery seen weak |
European Union (28 countries) | 0.3 | Recovering slowly as trade with eurozone improves slightly |
Germany | 0.7 | Enjoying stronger exports, economic confidence |
France | 0.5 | Improvements in consumer spending |
United Kingdom | 0.6 | Increase in manufacturing activity and housing market |
Italy | -0.2 | Financial crisis has forced steep spending cuts, but confidence stabilizing |
Sources: Eurostat, National Bureau of Statistics of China | ||
