Rising pessimism in the euro area
According to the Euro Growth Indicator calculated by the EUROFRAME group in early September, euro area real GDP should grow by 0.4 both in the third and fourth quarters of this year. The estimate for the third quarter has been revised downwards (–0.2 percentage point, from 0.55 to 0.36 pc) due to rising pessimism in the industrial sector, while the estimate for 2016Q4 is the first one run with the indicator. On a y-o-y basis, these forecasts imply a stable momentum, 1.6 percent both in 2016Q3 and 2016 Q4.
More information on this topic on our Euro Growth Indicator section.