Euro economy grows

EUROPE may finally be seeing an end to the recession.

The Europe Central Bank has announced a one per cent increase in growth in the second quarter of this year, compared to a disappointing 0.2 per cent last quarter.

And the economy of the 16 countries using the euro grew at its fastest rate in four years and saw a more rapid growth than the USA.

Germany saw its fastest growth in 20 years and led the way with growth of 2.2 per cent.

But bank President Jean-Claude Trichet said: “We are very anxious not to create abnormal expectations, and uncertainty still prevails.”

Expected growth for the rest of the year has now been set at 1.6 per cent.