Eurozone Nearing Economic Upturn, German Paper Opines

12 June 2002

Economic upturn is just around the corner for the Eurozone, according to new figures from the early indicator compiled by German business daily Handlesblatt.

The barometer, assembled from European Commission statistics, rose from 1.3% in May to 1.5% in June. Pointing to trends three months down the line, it suggests a “third-quarter growth dynamic of 1.3% on a sliding annualized basis”, translating into a year-on-year GDP rise of up to 4.2%.

The imminent upturn will be driven by the French economy, whose GDP growth is considerably stronger than that of Italy or Germany, with the latter’s woes expected to continue.

Data sourced from: Handelsblatt (Germany); additional content by WARC staff