Ex­porters take heart from signs of Europe, US re­bound

China Daily (Hong Kong) - - BUSINESS DIGEST - By CHEN JIA in Bei­jing YU RAN in Shang­hai

Un­ex­pected eco­nomic strength in the eu­ro­zone and United States in the sec­ond quar­ter has pos­i­tive im­pli­ca­tions for China and other emerg­ing coun­tries.

The re­bound may sup­port de­mand in the global mar­kets in the sec­ond half of the year and lead th e in­debted eu­ro­zone out of re­ces­sion, an­a­lysts said, but the re­cov­ery won’t be a smooth one.

The eu­ro­zone’s GDP rose 0.2 per­cent in the sec­ond quar­ter, com­pared with the first, ex­ceed­ing mar­ket ex­pec­ta­tions. GDP con­tracted 0.3 per­cent in the first quar­ter, ac­cord­ing to the Euro­pean Union statis­tics of­fice.

Euro­pean Cen­tral Bank Pres­i­dent Mario Draghi said last week that the lat­est statis­tics show that the eu­ro­zone has emerged from its most se­ri­ous re­ces­sion, and he an­tic­i­pated sta­ble eco­nomic con­di­tions in the fu­ture.

Mean­while, real US GDP grew 1.7 per­cent quar­ter-on-quar­ter in the first three months, above the mar­ket’s ex­pec­ta­tion of about 1 per­cent.

“I’m look­ing for­ward to see­ing a quick re­cov­ery of the econ­omy in the US and Europe, which can help my com­pany get through its tough­est times,” said Pan Xi­an­sheng, the owner of Yiwu Lian­sheng Glass Co Ltd, which sells many of its prod­ucts over­seas.

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