February 14, 2014
Europe’s economy is growing faster, raising hopes for a sustainable recovery, but that may not be enough to bring sky-high levels of unemployment down anytime soon.
The economy of the euro bloc grew 0.3 percent in the October-December period from the previous quarter, the Eurostat statistics office said Friday. That was slightly more than expected and up from the third quarter’s 0.1 percent.
The recovery remains tepid, however, at least by global standards. The eurozone’s annualized rate of about 1.2 percent is less than half the U.S.’s 3.2 percent rate during the same period.