Eurozone economy ‘to exit recession in Q3 2013′

<p>The eurozone recession is on track to end during this quarter.</p>

The eurozone's recession looks set to come to an end this year, according to an analyst.

Azad Zangana, European economist at Schroders, stated that data shows it is likely the eurozone's recession will be ended in the third quarter of the year.

He explained this is because of the release of the latest flash purchasing managers' indices, which recorded positive growth for the first time since January 2012, when the eurozone went into recession.

"The recovery is likely to remain uneven, with most of the growth being generated in core Europe, while peripheral Europe languishes with austerity," said Mr Zangana.

He also pointed out that inflation remains "dangerously low" across the continent, while many nations in the eurozone are still fighting against high and rising levels of unemployment.

Data from the National Institute of Economic and Social Research recently suggested that the UK's economy grew by 0.6 per cent in the second quarter of the year, with the country moving away from recession.

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