The line outside an employment office in Madrid last October. Spain's economy has been among the hardest hit in Europe. Dominique Faget /AFP/Getty Images hide caption toggle caption Dominique Faget /AFP/Getty Images The Two-Way Is Europe's Recession Really Over? It's Too Soon To Say August 14, 2013 A hopeful-sounding GDP report led to headlines declaring that Europe's economy is over. But much more evidence is needed before that conclusion can be reached, say the experts who study economies' ups and downs.