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European stocks mostly fall

Agence France-PresseMay 16, 2013 07:45
Europe's main stock markets mainly fell on Thursday, one day after official data showed the eurozone was still plagued by recession, but London stocks rose amid optimism in the insurance sector, dealers said. In morning deals in Paris, the benchmark CAC 40 index of leading companies fell 0.23 percent to 3,973.17 points, after data also showed on Wednesday that the French economy returned to recession in the first quarter. Frankfurt's DAX 30 index dipped 0.08 percent to 8,356.15 points, while London's FTSE 100 added 0.16 percent to 6,704.68 points.

Hollande under fresh pressure after France enters recession

Agence France-PresseMay 16, 2013 07:01
President Francois Hollande holds a key press conference Thursday, a day after his first anniversary in office was marred by news that France had fallen back into recession amid plummeting economic indicators. The Socialist leader, who is the most unpopular post-War president according to opinion polls, had pledged to turn back double-digit unemployment in Europe's second-largest economy this year, but that now seems highly unlikely.

Hungary returns to growth but Czech downturn deepens

May 16, 2013 02:03
By Michael Winfrey PRAGUE (Reuters) - Hungary's economy unexpectedly broke out of recession in the first quarter and Romania expanded faster than forecast, but their regional peer the Czech Republic plunged deeper into its longest downturn in two decades. The European Union's developing members are struggling with varying success to return to the pace of growth they need to catch up with the richer West, having been dragged back into double-dip contractions by the euro zone debt crisis.

Germany can't stop euro zone from sinking into longest recession

May 16, 2013 02:02
By Robin Emmott and Sarah Marsh BRUSSELS/BERLIN (Reuters) - Germany's economy crept back into growth at the start of the year but not by enough to stop the euro zone from contracting for a sixth straight quarter, and France slid into recession. Falling output across the bloc meant the 17-nation economy is in its longest recession since records began in 1995.

Hollande's headache worsens as France slips into recession

Agence France-PresseMay 16, 2013 02:00
President Francois Hollande's nagging headache to reboot the French economy has turned into a migraine as the economy slipped into its second recession in four years, fuelling speculation of an impending cabinet reshuffle. Having just marked his first year as French president, Hollande's ambition to reverse the trend of soaring unemployment is now deemed an impossible task by many economists who say the government's efforts to create more jobs will at best limit the damage.

Japan economy grows again, points to recovery

Agence France-PresseMay 15, 2013 21:30
Japan said Thursday that its economy grew again in the quarter to March, pointing to a recovery as Tokyo and its hand-picked central bank team set about stoking the world's third-largest economy. The 0.9 percent on-quarter growth -- or 3.5 percent on an annualised basis if the data were stretched over a year -- confirmed Japan's exit from recession as consumers spent more, although the nation's cautious firms did not follow suit.

Japan sees results from 'Abenomics' growth strategy, as GDP jumps 3.5 pct, beating forecasts

The Canadian PressMay 15, 2013 21:16
TOKYO - Japan's economy grew by a stronger-than-expected 3.5 per cent in annual terms last quarter, giving Prime Minister Shinzo Abe a boost as his government tackles reforms needed to ensure a sustained recovery from two decades of malaise. Stronger consumer spending and public works investment coupled with aggressive monetary easing lent oomph to the recovery that began in the last quarter of 2012, when annual growth was 0.3 per cent.

Bank of England upbeat on growth outlook

Agence France-PresseMay 15, 2013 20:15
The Bank of England forecast on Wednesday that British economy would grow faster than expected in the coming months, but stressed the weak nature of the recovery. Growth in Gross domestic product (GDP) was expected to strengthen to about 0.5 percent in the second quarter of 2013, but the recovery would be uneven, the central bank said in its latest quarterly report. The BoE also forecast that annual inflation would likely peak at 3.2 percent in the summer, but would probably not fall below its 2.0-percent target level until early 2016.

Euro zone economy shrinks in first-quarter, marks longest ever recession

May 15, 2013 17:30
BRUSSELS (Reuters) - The euro zone's economy contracted for the sixth straight quarter at the start of this year, data showed on Wednesday, marking its longest recession on records dating back to 1995. Falling output across the bloc, from France to Finland, meant the 17-nation economy shrunk 0.2 percent in the January to March period, the EU's statistics office Eurostat said.

Italy recession becomes longest on record as GDP slumps

May 15, 2013 17:30
By Gavin Jones ROME (Reuters) - Italy's economy shrank by more than expected in the first quarter, extending the country's recession to seven straight quarters and making it the longest since quarterly records began in 1970. Gross domestic product fell 0.5 percent following a 0.9 contraction in the fourth quarter of last year and contracted 2.3 percent on an annual basis, national statistics bureau ISTAT reported on Wednesday.
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