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E U Commission: Recovery May Not Be Sustainable

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From Times Online

September 14, 2009

Europe warns recovery could be short lived

Robert "Bob" Lindsay

The European Commission today forecast that Europe would return to positive growth by the end of the year but that the recovery might not be sustainable in 2010.


All chnage! :lol:

From green shoots to despair in a week.

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Brown is running out of time, if he leaves the election to the last possible moment he certainly won't have a mini recovery to boast about.

I still believe we are currently in the eye of the storm and we just keep moving enough to stay in the eye. At some point the storm is going to hit, I can't see us delaying the inevitable forever.

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At some point the storm is going to hit, I can't see us delaying the inevitable forever.

You just need to have faith in Gordon that's all. He will lead us into calmer waters, and on to the Promised land.

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Eurozone is 'exiting recession'

The eurozone is emerging from recession, according to the latest forecast from the European Commission.

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

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

The commission also forecast the UK economy, which is outside the eurozone, would grow by 0.2% during the third quarter, marking the end of recession.

Separately, official figures showed that eurozone industrial production fell by 0.3% in July compared with the previous month.

Other figures showed that the number of people employed in the 16 countries that use the euro fell by 702,000 between April and June compared with the previous three months, a fall of 0.5%.

'Weak economy'

"The economic situation has improved markedly since the second quarter, pointing to a better growth outlook for the second half of the year," the commission said.

It added that the improved economic outlook was due to "unprecedented" government stimulus that had helped to boost overall economic activity.

These stimulus packages should be kept in place throughout next year to ensure recovery, said European Union Monetary Affairs Commissioner Joaquin Almunia.

But Mr Almunia did warn that "the weak economy will continue to take its toll on jobs and public finances".

There are fears that a recovery could stall when government stimulus packages come to an end.

Commenting on the commission's forecast, HSBC analyst Janet Henry said: "This is a turning point in the global cycle. I think we will see GDP start to turn positive in the third quarter.

"But I think there is still some doubt about how much is driven by temporary stimulus and how sustainable the recovery will be."

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