High oil price gives boost to eurozone exporters

According to the European Central Bank's July 2005 Monthly Bulletin, exporters in the eurozone have benefited more than the US from the increased spending power of oil-producing countries, helping to offset the damaging impact of higher energy prices.

European Central Bank: Monthly Bulletin, July 2005 http://www.ecb.int/pub/pdf/mobu/mb200507en.pdf

---