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Glimmers of hope for German and UK economies

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Glimmers of hope for German and UK economies

Glimmers of hope for German and UK economies

Germany and Britain produced better-than-expected data Monday morning, showing signs of resilience amid fears of a recession in both countries.

Francis Maguire reports.

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Glimmers of hope for German and UK economies

Germany and Britain fought off recession fears Monday (September 9), with unexpectedly strong data released in both.

German exports rose in July, producing a solid start to the third quarter.

It suggests Europe's largest economy may withstand some of the impact of the U.S.-China trade war and Brexit uncertainty.

The Federal Statistics Office said exports rose 0.7% on the month, when analysts had predicted a 0.5% drop.

European stocks held close to one-month highs on the data, Meanwhile, Britain's economy grew unexpectedly in July.

A reassuring sign after fears the country could be headed for its first recession since the financial crisis as Brexit uncertainty escalates.

Britain's Office of National Statistics said economic output in July was 0.3% higher than in June.

That's the biggest rise since January, and ahead of forecasts.

Expansion was driven by the country's dominant services sector




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