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Eurozone GDP Preview: 0.1% qoq in 2014 Q3 – RBS

FXStreet (Barcelona) - Richard Barwell, Senior European Economist at RBS forecasts the growth among the big six economies as a pretty mixed bag.

Key Quotes

“At the industry level, we are expecting a contraction of 0.4% in industrial production in Q3 given the data already in the public domain, our expectation that the pace of decline in production in August will be revised and our estimate of a modest bounce-back in production on the month in September”

“We have an expansion of 0.1% in Germany; we expect Belgium, France and the Netherlands will all expand by 0.2%; we have Spain leading from the front at 0.5%; but have pencilled in a contraction of 0.3% in Italy.”

“That bottom up calculation is also consistent with growth of 0.1% in the Eurozone aggregate, but if anything we think that the risks here are to the upside: the risks around our estimates of the pace of expansion in Germany and the pace of contraction in Italy are both skewed to the upside.”

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