8 August 2002, 14:02  Euro zone Q3 GDP growth forecast cut 0.1 points to 0.6-0.9 pct

BRUSSELS (AFX) - GDP growth in the euro zone is expected to be between 0.6 and 0.9 pct in the third quarter compared to the second quarter and the earlier forecast for a rise of between 0.7 to 1 pct, said EU statistics office Eurostat. Eurostat said it has revised down its estimate because the retail and construction sectors was quite weak and the rally of the Institute for Supply Management (ISM) index of business activity ran out of steam in the second quarter. The GDP forecast for the second quarter has been maintained from Eurostat's earlier estimate in July. Eurostat reiterated that GDP growth for the second quarter compared to the first will be between 0.3 and 0.6 pct. ed/jkm/

© 1999-2024 Forex EuroClub
All rights reserved