Brussels

EU commissioner says EU GDP data 'encouraging'

'Timid signs of recovery' says Rehn

EU commissioner says EU GDP data 'encouraging'

Brussels, August 14 - Data on GDP growth in the European Union is "encouraging", European Commissioner for Economic and Monetary Affairs Olli Rehn said on Wednesday, noting however that signs of recovery were "timid" and growth "still fragile". Rehn also stressed that "this is no day for self-celebratory statements on the end of the crisis". Eurostat data released on Wednesday showed GDP had picked up 0.3% both in the euro zone and in the EU in the second quarter of 2013, outstripping forecasts, after shrinking for six consecutive trimesters. But Italy, going through its longest recession in 20 years, was one of six countries with GDP down again, by 0.2%. GDP went down 1.1% in the euro zone and 0.7% in the European Union from the same trimester in 2012.

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