EU28 GDP rose by 0.3% in the third quarter of the year, disappointing after the 0.4% of the second quarter, but it was at least confirmation of a recovery from the ‘double-dip’. Germany’s exports, in particular, have been impacted by weaker demand from the Asia Pacific region and the eurozone, while France’s GDP fell by 0.1%. The UK’s rise in GDP of 0.7% is one of the highest, although it is largely built on increased personal debt and growth in real wages is now weak. The southern European countries, largely responsible for the extent of the double-dip are, however, now showing signs of improvement.
Source : AXA Real Estate