Exports Surge from Euro-Zone, Economy on Path to a Slow Revival
- January 19 , 2012
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For the past two years, economists and investors have been spending sleepless nights over the trouble in the Euro-zone. Doomsday predictors almost had written-off the Euro-zone stating that a double dip recession is imminent. The economic indicators however point the other way round. Data released for November of 2011 indicates that exports from the Euro-zone have surged. The Netherlands and France were leading the pack. This is while they are considering kicking out Greece, Italy, and Spain out of the Euro-zone or just breaking up the Euro-zone entirely. Over and above, the trade surplus for the same period increased exponentially since July of 2004.
These are good numbers. Texas can boast numbers like this but California, Illinois, and New York cannot. The Netherlands and France have done OK at keeping their fiscal house in order.
Exports emanating from the Euro-zone in November stood at 3.9 percent, a stark contrast to 2 percent in October of 2011. This led to a widening of the trade surplus which stood at $7.8 billion in November of 2011. Mario Darghi, President, European Central Bank, issued a statement that said that this is the first sign of economic stabilization since the crisis erupted in 2008. The demand in terms of imports though is on the lower side, with time, even this situation could improve. A stable European economy is necessary for the U.S., and revival signs from Europe are always welcome.
Article written by Benjamin Roussey
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