Industrial output to increase by 8% in Q3

Industrial output will stagnate in the third quarter compared with April-June 2006, but will witness an 8% increase from the July-September 2005 period, research by the National Forecasting Commission shows. Industrial output will be 7.1% higher nine months into the year, compared with the same time in 2005, the Commission estimates. “This lends support to the idea of the analysis in the previous quarter, that is a rebound in industrial output, mainly because of some branches like the food industry, road transport vehicles, furniture or extractive industry,” the National Forecasting Commission’s study shows. A high industrial output growth pace that is continuing is also fuelling the progress of the Gross Domestic Product, with authorities pointing towards a 6% economic growth for this year. The Commission estimates exports of goods to increase by 7 to 7.3% in the third quarter, compared with April-June, to approximately 6.9 billion euros. Exports could increase by 19% for the first nine months, to 19.6 billion euros, higher than estimated. “To ensure the anticipated levels of production and sustain exports, it is estimated that a volume of imports of goods for the third quarter of about 10.26 billion euros is necessary, which accounts for an approximately 3.6% increase from the April-June period this year,” the report reads.