Eurozone Industrial Sector Unlikely To Boost Q3 GDP: Capital Economics Eurozones industrial sector is unlikely to have provided much of a boost to the wider economy in the third quarter, despite a rise in production in August, Capital Economics European Economist James Howat said Tuesday. According to Capital Economics, the euro area industrial sector remains weak and is dependent on Germany to power a decent recovery in the euro-zone as a whole. Among the other major economies, the rise in French output barely reversed big falls seen in the preceding three months, while Italian production fell for the second straight month. The firm observed that although the service sector might have made a slightly stronger contribution, it looks unlikely that the euro-zones recovery gathered much pace in the third quarter. Data released by the Eurostat on Tuesday showed that industrial production in the currency bloc, on a seasonally adjusted basis, increased 1 percent month-on-month in August, recovering from Julys 1 percent fall, which was revised up from 1.5 percent contraction. Production was forecast to rise 0.8 percent. The upturn in activity was supported by widespread improvement in all the major industrial sub-sectors, with the biggest contribution coming from capital goods. On an annual basis, however, overall production decreased by 2.1 percent in August.
Posted on: Tue, 15 Oct 2013 06:10:08 +0000
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