Investing.com - Industrial production in the euro zone fell unexpectedly in March, adding to fears over the health of the region’s economy, official data showed on Monday.
In a report, Eurostat, the European statistics agency said industrial production dipped by a seasonally adjusted 0.3% in March, defying expectations for a 0.4% increase.
Industrial production for February was revised up to a 0.8% gain from a previously reported 0.5% increase.
Year-on-year, industrial production fell at an annualized rate of 2.2% in March, the largest fall since December 2009, after dropping at a rate of 1.8% in the previous month.
Analysts had expected industrial production to decline at an annualized rate of 1.4%.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.32% to trade at 1.2875.
Meanwhile, European stock markets held on to sharp losses. The EURO STOXX 50 plunged 2.4%, France’s CAC 40 sank 2.25%, Germany's DAX tumbled 2.1%, while London’s FTSE 100 slumped 1.6%.
In a report, Eurostat, the European statistics agency said industrial production dipped by a seasonally adjusted 0.3% in March, defying expectations for a 0.4% increase.
Industrial production for February was revised up to a 0.8% gain from a previously reported 0.5% increase.
Year-on-year, industrial production fell at an annualized rate of 2.2% in March, the largest fall since December 2009, after dropping at a rate of 1.8% in the previous month.
Analysts had expected industrial production to decline at an annualized rate of 1.4%.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.32% to trade at 1.2875.
Meanwhile, European stock markets held on to sharp losses. The EURO STOXX 50 plunged 2.4%, France’s CAC 40 sank 2.25%, Germany's DAX tumbled 2.1%, while London’s FTSE 100 slumped 1.6%.