Investing.com – Industrial production in the euro zone declined for the third consecutive month in November, official data showed on Thursday.
In a report, Eurostat, the European statistics agency said industrial production fell by a seasonally adjusted 0.1% in November, compared to expectations for a 0.2% drop.
Industrial production in October was revised to a 0.3% decline from a previously reported drop of 0.1%.
Year-on-year, industrial production fell at an annualized rate of 0.3% in November, after climbing at a rate of 1.0% in the previous month. Analysts had expected industrial production to rise at an annualized rate of 0.2%.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD climbing 0.31% to trade at 1.2747.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50jumped 1.25%, France’s CAC 40 rose 0.95%, Germany's DAX rallied 1.2%, while London’s FTSE 100 advanced 0.4%.
In a report, Eurostat, the European statistics agency said industrial production fell by a seasonally adjusted 0.1% in November, compared to expectations for a 0.2% drop.
Industrial production in October was revised to a 0.3% decline from a previously reported drop of 0.1%.
Year-on-year, industrial production fell at an annualized rate of 0.3% in November, after climbing at a rate of 1.0% in the previous month. Analysts had expected industrial production to rise at an annualized rate of 0.2%.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD climbing 0.31% to trade at 1.2747.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50jumped 1.25%, France’s CAC 40 rose 0.95%, Germany's DAX rallied 1.2%, while London’s FTSE 100 advanced 0.4%.