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European economy out of recession

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The euro-area economy came out from recession in the third quarter as consumers’ unwillingness to increase spending was compensated by growth in exports from France and Germany. Gross Domestic Product rose 0.4 percent in the economy of the 16 countries that use the euro. It had fallen by 0.2 percent in the previous quarter. The GDP growth for this quarter was lesser than the 0.5 percent growth that was predicted by economists.


Hong Kong emerges out of recession as economy grows 3.3 per cent

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According to government reports, Hong Kong’s economy emerged out of a year long recession as it grew 3.3% benefitting from a strong growth in the Chinese mainland and better conditions in the West.

On a seasonally adjusted quarter to quarter basis, the southern Chinese territory’s economy grew by 3.3% after falling in four consecutive quarters.


China’s recovery impressive; manufacturing grows

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The Chinese economy is expected to pick up pace this quarter on the back of the fastest expansion in the manufacturing sector in the past one and a half year. A never before seen growth in new loans and the government’s $586 billion stimulus are the major contributors to keeping the Chinese recovery on track.


Australia expected to recover slowly

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According to reports by a Canberra based consultancy named Access Economics, the Australian economy is likely to recover comparatively slower as world-growth increases next year. Access attributes this subdued recovery to higher interest rates and circumspect consumers.


China to lead world economic recovery

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A recent World Bank report has suggested that amongst the world’s major economies, the Chinese economy will be the first to emerge out of the global slowdown. The World Bank predicted China to grow at almost 8.4 percent and that would be enough to offset the slump in the US, Japan and the EU during the first three quarters this year.

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