Investing.com - Industrial production in the euro zone fell for the third consecutive month in November, underlining concerns over the outlook for economic growth in the single currency bloc, official data showed on Monday.
In a report, Eurostat, the European statistics agency said industrial production fell by a seasonally adjusted 0.3% in November, confounding expectations for a 0.1% increase.
Industrial production for October was revised to 1% drop from a previously reported 1.4% decline.
Year-on-year, industrial production fell at an annualized rate of 3.7% in November, the biggest drop 2009, after dropping at a rate of 3.6% in the preceding month.
Analysts had expected industrial production to decline at an annualized rate of 3.1% in November.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.29% to trade at 1.3382.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 added 0.5%, France’s CAC 40 rose 0.5%, Germany's DAX advanced 0.8%, while London’s FTSE 100 eased up 0.1%.
In a report, Eurostat, the European statistics agency said industrial production fell by a seasonally adjusted 0.3% in November, confounding expectations for a 0.1% increase.
Industrial production for October was revised to 1% drop from a previously reported 1.4% decline.
Year-on-year, industrial production fell at an annualized rate of 3.7% in November, the biggest drop 2009, after dropping at a rate of 3.6% in the preceding month.
Analysts had expected industrial production to decline at an annualized rate of 3.1% in November.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.29% to trade at 1.3382.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 added 0.5%, France’s CAC 40 rose 0.5%, Germany's DAX advanced 0.8%, while London’s FTSE 100 eased up 0.1%.