Germany and France officially out of recession

In another sign that, contra economic sneerers on the equivalent of Don Rumsfeld, the “old Europe” of the Eurozone has plenty of vigor, Germany and France are both officially out of recession with second-quarter economic growth.

That said, overall Eurozone growth dropped 0.1 percent. However, that’s still smaller than the U.S. second-quarter drop. In the rest of the EU, the UK seemed to the biggest laggard, with its financial sector still struggling more.