The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

BRUSSELS (AFP) – Eurozone industrial output fell by 1.5 percent in July, data showed Thursday, dampening hopes for a continuation of the growth that helped the currency bloc escape recession.

The 1.5 percent drop in July from June followed a downwardly revised 0.6 increase in June, the EU statistics agency Eurostat said.

Compared with July 2012, industrial output in the 17-nation eurozone fell by 2.1 percent.

“July’s large fall in eurozone industrial production put a serious dent in hopes that the tentative recovery underway in the region’s economy will have gathered further momentum in the current quarter,” said analysts at Capital Economics in London.

The eurozone exited an 18-month recession by posting 0.3 percent growth in April to June.

Business surveys, a forward-looking indicator that are usually a reliable indicator of output, have suggested in July and August that eurozone business activity is expanding.

In the 28-member EU, industrial output fell by 1.0 percent in July from the previous month, following a 0.9 gain in June.

Photo Credit: AFP/Odd Andersen


Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Donald Trump

Youtube Screenshot

Former President Donald Trump invoked his Fifth Amendment right against self incrimination on Wednesday when he was deposed by lawyers at the New York Attorney General’s office investigating whether the Trump Organization defrauded or misled lenders by tweaking the value of his properties and assets.

New York Attorney General Letitia James, who is leading the civil probe of Trump Organization, did not immediately respond to a request for comment on Wednesday. In a statement released shortly after he appeared, Trump defended his decision to invoke the right after years of insisting that only guilty parties plead the Fifth when under questioning.

Keep reading... Show less

Stephen Colbert Impersonates Eric Trump, right

Image via YouTube

After flouting every law in the book and avoiding accountability throughout his entire adult life, former President Donald Trump was finally served a hefty helping of justice when the FBI raised his Mar-A-Lago residence this week.

Late Show host Stephen Colbert gleefully mocked Eric Trump for telling Sean Hannity that all the agents would find at his dad's estate is a “note from me telling him how proud I am of him and what a great job he was doing as president.”

Keep reading... Show less
{{ }}