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11/13/09

Data show recession is over in Europe - by Anthony Faiola

For the complete report from the washingtonpost.com click on this link

Buoyed by strengthening rebounds in Germany and France, the 16-nation euro zone has officially climbed out of its worst recession since World War II, fueling hopes that a lasting global recovery is beginning to take shape. The data released Friday -- showing modest 0.4 percent growth among the nations that use the euro during the third quarter, compared with a 0.2 percent contraction in the second quarter -- came after the United States and Japan have also officially emerged from recession. At the same time, the economies in emerging giants such as China and Brazil are roaring ahead. Though several countries in Europe -- most notably Britain, Spain and Ireland -- are still mired in sharp downturns, even troubled nations such as Italy are beginning to post positive growth.

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