Business

Eurozone due to post positive GDP

Half-build apartments in Spain, file image
Image caption Even Spain, hampered by a construction collapse, has managed modest growth

Growth figures due to be released for the Eurozone area are expected to show signs of recovery, despite the region being rocked by the Greek debt crisis.

Germany, France and Spain are all set to publish details of their gross domestic product (GDP) for the second quarter of the year.

The indications are that Germany's GDP may have grown a healthy 1.3% between April and June.

This figure would be outstripping the UK's gains over the same period.

It is mainly because Germany is exporting almost as many goods as it did during the boom years before the financial crisis.

These startling numbers are not expected to continue through the second half of the year, but there are indications that Europe's biggest economy may have weathered the storm.

Indications are France's economy will grow by around 0.4%. Even Spain, which has suffered badly from the collapse of its construction industry, is expected to keep its head above water by 0.1%.

It is extraordinary to think that in the same period that we saw riots on the streets of Athens and a $640bn (£411bn; 499bn euros) rescue fund set up to help Eurozone countries unable to pay their debts, we have probably also seen some steady growth in area.

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