European Economics

European Chart Book

8 November, 2018

Q3 growth hit by temporary drop in car production

The slowdown in quarterly euro-zone GDP growth to just 0.2% in Q3 came as a major disappointment, but there are good reasons to expect the economic expansion to regain a little pace in the quarters ahead. For a start, we estimate that about half of the deceleration in Q3 was down to a 7% slump in car production as producers struggled to comply with new emissions testing procedures which applied to all vehicles from September. Second, business surveys suggest that the underlying pace of growth is

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