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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61988)	3/13/2002 12:55:58 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Europe's Economic Recovery Appears To Be Under Way, WSJ(3/13) By staff reporters Christopher Rhoads in Berlin, G. Thomas Sims in Frankfurt and Gautam Naik in London futuresource.com While the U.S. economy bounced back in the fourth quarter, Europe's own gross domestic product shrank for the first time since 1993, according to the chief European statistics agency. Still, evidence is mounting that a recovery on the Continent is under way. Among the 12 countries that share the euro, GDP, the total value of goods and services, contracted by 0.2% in the fourth quarter from the third, Eurostat reported. Growth was dragged down by corporate retrenchment in the face of slackening global demand. But just as it followed the U.S. in its downturn, Europe appears to be moving upward now as well. Surveys show that Europe's overall economic mood, as measured by the European Economic Sentiment Indicator, is now at its best since September, and inflation is on the whole falling. Spaniards are building. Italians are using more phone services and burning more electricity. The French keep buying. Lufthansa, the German airline, recently lifted a hiring freeze on cabin and ground crew as it prepares for more flights to the U.S. this summer. "Indicators increasingly point to improvements in economic conditions," Wim Duisenberg, president of the European Central Bank, said last week.