- Fabio Fois, an economist at Barclays
The German economy rebounded in the three months through September following a contraction in the preceding quarter, with the economy heading towards regaining upwards momentum, according to the Economy Ministry's monthly report. The ministry did not project any notable pick up in economic activity in the final quarter of the year, though. Third quarter GDP data is due to be published on November 14, with economists expecting that the economy had grown 0.1% on the quarter and 1.0% on an annual basis.
Meanwhile, industrial output in the Euro zone increased in September, driven by machinery and energy. Output from manufacturers, mines and utilities rose 0.6%, Eurostat said, compared to the upwardly revised 1.4% drop in the preceding month and analysts' expectations for a 0.6% gain. On an annual basis, industrial production rose 0.6%, after the 0.5% year-on-year drop in August. The Euro zone's economy is predicted to grow 0.8% this year following two years of recession, as the drag from the currency bloc's debt and banking crisis, along with the geopolitical crisis in Ukraine, continues to weigh on the creation of wealth. This Friday, a bunch of important data is coming out including preliminary third quarter GDP from the region's leading economies, as well as final inflation numbers for October.
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