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The upturn was led by Germany, whose GDP grew by 0.7%.
But, adding to fears for struggling emerging economies, they warned the upturn was patchy.
That provided a reality check for investors who believed that an economic upturn was at hand.
Some evidence of that recent upturn was on display at NeoCon East.
Importantly, the upturn was not simply fuelled by surging spending by households.
The upturn "was quite subdued by our usual standards, but it was there," he said.
Similar(30)
Managing in an upturn is relatively easy.
There is an upturn, but the upturn is not dramatic".
The upturn is predicted to last until at least 2015.
There is certainly no sign that a normal cyclical upturn is taking hold.
A major economic upturn is not part of mainstream, short-term forecasts.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com