No recession for Europe.

Today released numbers show good shape for European economies. Germany more than doubled estimations and grew 1.5% in first three months of 2008 (quarter on quarter). Non-seasonally (quarterly basis) GDP grew 1,8%.
Another surprise is coming from France. Quarter on quarter growth by 0,6%. Great Britain up by 0,4%.Smaller European economies, Greece +1,1% and Austria +0,8%. But others shrank slightly. Portugal and Spain registered in the negative, -0,2% respectively -0,3%.

And how about Central European emerging markets. Czech Republic quarter on quarter +0,9% but non-seasonally still nice growth by 5,4%. Slovakia non-seasonally slow down from 14,3% to 8,7%.