1.   Among the places hit hard financially was New York City, where voters chose a new mayor to lead their recovery.

2.   As expected, exports led recovery in the third quarter, the Bundesbank said.

3.   Bank stocks and utilities then led the recovery, as qyinvestors decided to take Labour at its word.

4.   But housing, which is highly sensitive to interest rates, could help lead a recovery.

5.   But which parts of the economy will lead that recovery?

6.   He added that the Japanese recovery is being led by domestic demand, one of the U.S. concerns.

7.   He said it was unclear when private manufacturers would lead the recovery.

8.   However, the recovery is being led by public works spending and low interest rates.

9.   HSBC Holdings Plc, Lloyds TSB Group Plc, BG Plc and Prudential Corp. Plc led the recovery.

10.   Initially, exports led the recovery.