Forbes.com: "the fantasy continues" European stocks, Wall Street gain on US GDP Data - by Louisa Watt
"the fantasy continues)" European stocks, Wall Street gain on US GDP Data - by Louisa Wat
The U.S. government report delivered the strongest signal yet that the economy entered a new, though fragile, phase of recovery and that the worst recession since the 1930s has ended. In afternoon trading in Europe, Germany's DAX jumped 1 percent to 5,551.94, Britain's FTSE 100 added 0.6 percent to 5,110.80, and France's CAC 40 climbed 1.1 percent to 3,703.90.
In a separate report, official data showed workers filing for jobless claims for the first time fell slightly less than expected last week, evidence that the labor market remains weak even as the economy is recovering.
Note EU-Digest: Whoever says that the recession has ended based on these results must be dreaming. Where are the real figures about employment and new job creation?
Labels: Economic Reports, US Economy
