Word: quarters
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Dates: during 2000-2009
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...pleasantly surprised, and didn't expect this before the third quarter," says Gilles Moec, a European economist for Deutsche Bank in London. "But the improvement is rather thinly spread, and not necessarily sustainable. A lot will depend on whether the positive activity in exports and consumer spending continues, which may prove difficult." (See pictures of the global financial crisis...
...True, Germany's 0.3% second-quarter spurt is a modest one. But it's a vast improvement on the economic contraction of 3.1% that Germany suffered in the first quarter of 2009 - its fourth straight negative quarter. France's identical 0.3% advance contrasts its 2008 first-quarter shrinkage of 1.3%. Both economies benefited from better than expected consumer spending and higher exports led primarily by car sales - and in France's case, airplanes as well. (See pictures of Paris expanding...
...Portugal joining France and Germany by posting gains of 0.3% each. Meanwhile, Italy's economy shrank by 0.5% and the Netherlands' dropped 0.9%, while Austria and Belgium both contracted by 0.4%. Previously, the U.K. - which does not belong to the euro zone - reported that its expected 0.5% second-quarter decline had in fact been...
...second-quarter data gives reasons for hope, but it also resulted from some exceptional factors that will be increasingly less influential from now on," Moec says. "The outlook, therefore, is one of cautious optimism...
...During the war years, which lasted from 1989 until 2003, more than a third of Liberia's small population was displaced, a quarter of a million died, and countless women and men were victims of unthinkable cruelty. Many think that President Johnson Sirleaf, a Harvard-educated economist, can change the tide and take Liberia from post-conflict to development. She's often praised for her strong stand on corruption and her commitment to moving Liberia forward on the long road from conflict to recovery...