by Jerome a Paris
Thu May 15th, 2008 at 09:26:51 AM EST
German growth spurt powers eurozone
A dramatic German growth spurt powered a reacceleration in eurozone growth at the start of this year that contrasted with the sharp US slowdown.
(...) However, economists agreed that the German first quarter figures were distorted by exceptional factors (...) Holger Schmieding at Bank of America said Germany’s rebound was “quite an achievement” given the country was until recently regarded as the sick-man of Europe. But he added that “the good news is unlikely to last”.
Yet another simple rule: bad economic news from the US or the UK are "one-offs" or "cyclical"; but the same applies to good news from Europe. Conversely, good news from the Anglo economies are spontaneously seen as signs of intrinsic dynamism or resilience, while bad news from Europe are just a normal reflection of their decline or rigidity.
Part of the Europe.Is.Doomed series