Economic activity faces the headwinds of the ongoing debt crisis, although some indicators continue to show a robust economy. Exports bounced back in August and thus remain an important growth driver. Moreover, positive developments in the labour market have boosted consumer confidence, which bodes well for consumption in the last quarter of the year. However, the recent lethargy of industrial output in August and October’s decline in business confidence point to sluggish growth in the industrial sector and weak investment in the coming months.
