Fair dos to the German government. Its stimulus measures, once derided as puny, have delivered a bigger bang for the buck than anyone expected. Germany and France, partly helped by Germany's stimulus programme, surprisingly exited recession in the second quarter. Both countries' 0.3 per cent quarter-on-quarter growth yanked up the eurozone as a whole to only a 0.1 per cent contraction. Economists across the continent are now tweaking their spreadsheets. Coupled with Wednesday's message from the Fed that the US economy may be levelling out, the impression that the worst is over is solidifying.
對(duì)待德國(guó)政府要公平。德國(guó)的經(jīng)濟(jì)刺激措施曾被嘲笑為微不足道，但其影響卻超出了所有人的預(yù)期。一定程度上在德國(guó)經(jīng)濟(jì)刺激計(jì)劃的推動(dòng)下，德國(guó)和法國(guó)第二季度出人意料地?cái)[脫了經(jīng)濟(jì)衰退。上述兩國(guó)經(jīng)濟(jì)各自較上一季度增長(zhǎng)0.3%，拉動(dòng)歐元區(qū)整體經(jīng)濟(jì)萎縮幅度收窄至僅僅0.1%。歐洲大陸各地的經(jīng)濟(jì)學(xué)家如今紛紛在修改自己的數(shù)據(jù)表格。加之周三美聯(lián)儲(chǔ)(Fed)又傳出美國(guó)經(jīng)濟(jì)或許已企穩(wěn)的信息，進(jìn)一步鞏固了最糟糕時(shí)期已經(jīng)過(guò)去的印象。