- Eurozone factory output dips but IMF insists economy is ‘improving’!
by Denise Roland, http://www.telegraph.co.uk/
International Monetary Fund chief Christine Lagarde has insisted the eurozone economy is ‘improving’ as latest figures show a third consecutive month of falling factory output.
Ms Lagarde said it was “clearly the case” investors were returning to the eurozone, a message at odds with bleak figures released on Monday showing industrial output across the single currency bloc fell 0.3pc in November from October.
“We forecast that the eurozone will be delivering growth in 2013,” she said, speaking to the BBC World Service on Monday. “Clearly this is the result of national policies and also a regional effort to strengthen the zone into a better, more consolidated banking union.
“It’s clearly the case that investors are returning to the eurozone and are resuming confidence in that market.” Her words will likely provoke disbelief in the markets.