EU out of recession

The EU is now out of recession, official figures from Eurostat have revealed.

Data for the third quarter of 2009 has shown that across the 27-country bloc as a whole, there was a 0.2 per cent increase in gross domestic product.

In the eurozone, the level was greater at 0.4 per cent.

Those keen on buying property in Portugal may be particularly encouraged, as the 0.5 per cent seen in the second quarter was surpassed by 0.9 per cent expansion in the following three months.

Another country to see an improvement was Italy, which emerged from recession with a 0.6 per cent rise in gross domestic product.

Meanwhile, France saw 0.3 per cent growth for the second quarter in a row.

These figures contrasted with those of some countries that are lagging behind, with seven states for whom data for the three months to September is available still in recession, the UK being among them.

Today's figures follow data earlier this week from Eurostat showing a 0.3 per cent increase industrial output in the quarter.

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