World stocks ended higher on Friday, while bonds took a hit and the U.S. dollar recovered after beter than expected U.S. unemployment data reinforced the view that the global economic slump may be nearly over.

The U.S. unemployment rate fell to 9.4 /cent in July, the first fall in 15 months.

“This is the best showing (since) prior to the financial meltdown, and those are important benchmarks to achieve,” said Richard Dekaser, president of Woodley Park Research in Washington, D.C.

June was likely to be the last month of the U.S. recession, according to investment bank Barclays Capital after the jobs data was reported.

In Germany, Europe’s largest economy, the contraction  likely ended in April this year, and data on Friday showed German exports surged at their fastest pace in two years in June.

Italy’s economy shrank by a less than expected 0.5 /cent in the second quarter this year, according to data on Friday, but Italy and Spain will remain a drag on recovery for the euro zone area, economists at the UK investment bank also said.

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