The first three months of the year marked the sixth consecutive quarter of Eurozone contraction. The slowdown has now spread to the core of the bloc, with France entering recession. By contrast, the US recovery has consistently outpaced that of the Eurozone with output around 3% higher than its 2008 peak. One area that could contribute to business growth is the booming trade in international services. 2010 marked the first year, since reliable records began, during which the value of services imported by emerging economies exceeded that of the imported by the G7 economies. And this trend is set to continue as emerging economies grow richer.