According to the preliminary report from STATEC, GDP expanded 1.9% year-on-year in the second quarter, which was below the 2.9% expansion recorded in the previous quarter. The economy moderated on the back of slower growth in investment as well as a weak performance in exports. Industrial production accelerated from a 0.6% increase year-on-year in July to a 3.4% expansion in August, while the European Commission’s economic sentiment indicator plummeted from 100.5 points in September to 96.1 points in October.
