Has Europe emerged from recession?

+ Official Coverage on Channel NewsAsia – Money Mind

1 September 2013
Channel NewsAsia – Money Mind

Has Europe emerged from recession?

Europe can finally breathe a sigh of relief after years of recession. Market conditions are looking up, with 0.3 percent growth in the second quarter. Optimism is on the rise – but is the growth here to stay? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his views on Channel NewsAsia – Money Mind.

Europe is in recovery mode as PMIs (Purchasing Managers Index) are turning positive. Consumer confidence is rising in some key markets such as Germany, which is drawing in more Asian imports. Perera remarked that opportunities in the high-technology sector, in particular, are on the rise.

Europe now holds a number of attractions for Asian companies. It offers the potential for research partnerships and M&A opportunities in areas like medical technology and 3D printing. Europe can also be explored for manufacturing operations due to access to the EU market as well as being located closer to emerging economies including Russia, Turkey and the MENA (Middle East and North Africa) region.

Perera discussed how the smart-phone sector was an example of a sector where Asian companies would have a competitive advantage (both in terms of hardware production and, potentially, software) which could be realized through exports to Europe.

Will the European economy finally emerge from its two years of uncertainty?

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