mpc.theyserveforyou.com

mpc: 9 Euro-area GDP had risen by 0.3% in Q3, following growth of 0.5% in Q2. This was a little lower than anticipated a month or so ago. It was noted that the latest data for France, in particular, looked weaker than expected. The softness in euro-area net trade in Q3 was a surprise, and had come before the most recent appreciation of the euro against the dollar. There had been a large positive contribution from inventories to GDP growth. Both the euro-area services and manufacturing Purchasing Managers Indices had fallen in November. Overall, the indicators pointed to slower GDP growth in Q4. Furthermore, a number of outside forecasts for 2005 for the euro area had been revised down recently.