国际英语新闻：U.S. dollar falls as Eurozone exits recession

NEW YORK, Nov. 13 (Xinhua) -- The U.S. dollar fell against major currencies on Friday as reports of Eurozone economic growth boosted investors' risk appetite.

    Gross Domestic Product (GDP) increased by 0.4 percent in the euro area, and by 0.2 percent in the 27-nation European Union (EU) during the third quarter of 2009, according to Eurostat, the Statistical Office of the European Communities.

    The 0.4-percent growth, slightly lower than expected, showed that the Eurozone walked out of its first recession since the single currency was unveiled in 1999. The two largest economies in the Eurozone, German and France, grew by 0.7 percent and 0.3 percent respectively in the third quarter.

    The Eurozone slipped into recession in the third quarter of 2008 with two consecutive quarters of negative growth. Its GDP contracted by a massive 2.5 percent in the first quarter of 2009 before showing signs of bottoming out.

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009

    Eurostat is yet to release a component breakdown of euro-zone GDP in the third quarter of 2009.

    It is evident from all of the countries that have released data that a marked increase in exports contributed significantly to the return to growth, said analysts of IHS Global Insight. Consumer spending likely saw little or no growth across the euro zone in the third quarter.

    Recovery in the euro zone could well lose momentum for a time in 2010 before growth starts to gradually pick up again, according to IHS Global Insight.

    U.S. trade deficit widened by 18.2 percent to 36.5 billion dollars in September, with exports up 2.9 percent and imports rising 5.8 percent, the U.S. Commerce Department reported.

    The trade figures signal a strong rebound in global trade, but are also a reminder that rising imports will be a drag on the U.S. recovery, analysts said.

    The Nomura Economic Research estimated that U.S. GDP growth in the third quarter would be revised to 3.0 percent, down from 3.5 percent initially reported.

    The euro bought 1.4893 dollars in late New York trading compared with 1.4866 dollars it bought late Thursday. The British pound rose to 1.6672 dollars from 1.6570 dollars.

    The dollar fell to 1.0517 Canadian dollars from 1.0546 Canadian dollars, and fell to 1.0135 Swiss francs from 1.0162 Swiss francs. It fell to 89.63 Japanese yen from 90.32 Japanese yen.