Exporters take heart from signs of Europe, US rebound
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.