Eurozone factory output rising

Industrial production in the Eurozone was much stronger than expected in August, data showed yesterday, indicating the economic slowdown in the third quarter might be smaller than feared. Official agency Eurostat said industrial production in the 17 countries using the euro rose 1.2 per cent month-on-month in August and by 5.3 per cent compared with the same month last year. The European Commission expects growth in the Eurozone to slow to 0.1 per cent quarter-on-quarter in the third and fourth quarters of 2011 from 0.2 per cent in the April-June period, largely because of the negative impact on confidence from the sovereign debt crisis.