More detailed GDP figures showed that the economy grew 0.6% in the third quarter. Nevertheless, the economic outlook remains gloomy. In line with the prevailing downward trend in industrial production, output fell 0.7% over the previous month in October. The demand side of the economy is also set to remain subdued. In December, consumer confidence dropped to a near three-year low to levels last seen during the 2008-2009 recession. Moreover, in the August-October period, the unemployment rate was 8.3%, the highest level in 17 years.
