Eurostat, the statistics office for the Euro Zone, announced that industrial production for the 16 countries using the euro increased by just 0.7 percent in October for an annualized increase of 6.9 percent. This is far off the prediction of 13 percent for the month and 7.6 percent for the year.
“Today’s report shows that eurozone industry as a whole started off the fourth quarter on a positive note, which is encouraging,” said Martin Van Vliet, an economist at ING. “But the peripheral weaknesses coupled with the seemingly inevitable slowdown in world trade makes us cautiously optimistic about industry’s prospects for the upcoming six to nine months.”
Source: BBC News
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