Germany Drives Euro-Zone Growth
Posted by | Posted in Business News | Posted on 14-08-2010
FRANKFURT—The euro-zone economy tore past the U.S. in the second quarter thanks to a 9% jump in German growth—but the surge is expected to fade fast, adding to concerns about the global recovery.
The 16-nation euro zone grew 3.9% in the second quarter, at an annualized rate, its fastest pace in four years, according to calculations based on data from the EU’s statistics agency Friday. Economists had expected growth closer to 3%. Excluding Germany, which makes up almost 30% of the bloc’s economy, GDP advanced about 2.5%.
Germany’s robust performance, driven by demand for its exports, stood in contrast to …
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