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Eurozone industry ends Q3 on weak note

LONDON – Official figures show that industrial output across the 19-country eurozone ended the third quarter on a weak note but still finished 0.4 per cent higher during the period.

Eurostat, the European Union’s statistics agency, said Monday that output fell by 0.8 per cent in September from the month before. The decrease was more or less in line with market expectations following a 1.8 per cent monthly advance in August.

Germany, Europe’s biggest economy, was behind the moves in both months. A 3.4 per cent advance in August was followed by a 1.9 per cent decline in September.

Analysts said the summer months can often be volatile given plant shutdowns during the holiday period.

Figures Tuesday are set to confirm that the eurozone economy grew by a quarterly rate of 0.3 per cent in the third quarter.