When an financial system contracts for 2 consecutive quarters, it’s usually thought-about to be in recession. European policymakers might be hoping that two consecutive quarters of development are equally notable. Knowledge launched on August 14th confirmed that, within the second quarter of the yr, the EU’s financial system as soon as once more grew by 0.3% towards the earlier quarter. Though nothing to put in writing house about by American requirements, such development is a aid after greater than a yr of stagnation.