Seven months after early signs of recovery from recession became visible in the U.S., they are appearing in Europe, too. They are confined to a few key indicators (auto sales, appliance and consumer buying) and are most evident in two key countries: West Germany and France. Nonetheless, says Italian Economist Luigi Spaventa, voicing a general European view, "I expect we've hit bottom. Now it depends on how long we keep crawling along down there."
The outlook in the four most important countries:
WEST GERMANY is regaining some of its old economic vigor. Exports have spurted to near-record levels, and domestic auto sales may...
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