Investing.com - Industrial production in the euro zone fell for the second consecutive month in October, adding to concerns over the outlook for economic growth in the single currency bloc, official data showed on Wednesday.
In a report, Eurostat, the European statistics agency said industrial production fell by a seasonally adjusted 1.4% in October, compared to expectations for a 0.2% increase.
Industrial production tumbled by 2.5% in September.
Year-on-year, industrial production fell at an annualized rate of 3.6% in October, after dropping at a rate of 2.3% in the preceding month. Analysts had expected industrial production to decline at an annualized rate of 2.4%.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.1% to trade at 1.3019.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 added 0.15%, France’s CAC 40 was little changed, Germany's DAX advanced 0.3%, while London’s FTSE 100 eased up 0.25%.
In a report, Eurostat, the European statistics agency said industrial production fell by a seasonally adjusted 1.4% in October, compared to expectations for a 0.2% increase.
Industrial production tumbled by 2.5% in September.
Year-on-year, industrial production fell at an annualized rate of 3.6% in October, after dropping at a rate of 2.3% in the preceding month. Analysts had expected industrial production to decline at an annualized rate of 2.4%.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.1% to trade at 1.3019.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 added 0.15%, France’s CAC 40 was little changed, Germany's DAX advanced 0.3%, while London’s FTSE 100 eased up 0.25%.