Europe should get some additional attention in the coming week with industrial production data for December (12 February) and the flash estimate for fourth...

John Robertson

PortfolioDirect

Europe should get some additional attention in the coming week with industrial production data for December (12 February) and the flash estimate for fourth quarter GDP (14 February) both due. The Euro area GDP estimate is likely to barely exceed zero according to the consensus surveys of economists. This will be taken as better than a negative result but will basically mean that European output remains dormant and below where it had been in the last quarter of 2011. There would need to be an improbable 0.7% gain in the quarter to make up for output losses during 2012 and 2013. Once again, the exporting economies will probably do better than the others but an overall acceleration cannot gain enough power while growth among these comes at the expense of growth in others. The contribution from business investment remains critical for the evolving resources cycle.


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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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