Eurozone industrial output posts healthy gains in third quarter
EUROZONE industrial production rose again in September by 0.3 per cent on the previous month, raising hopes that tomorrow’s third quarter GDP figures for the region will see strong gains.
The rise meant output in the three months to September was 2.2 per cent higher on the previous quarter and that the sector contributed slightly more than 0.4 percentage points to GDP in the third quarter.
ING’s Martin Van Vliet said: “Rising new orders and inventory replenishment point to a further expansion in industrial production in the fourth quarter. But the road to full industrial recovery remains long, especially given the euro’s current strength.”
Industrial output has risen four per cent since April but is still 17 per cent below the peak in April 2008.