Investing.com - Industrial production in the euro zone fell more than expected in August, fuelling concerns over the outlook for economic growth in the single currency bloc, official data showed on Tuesday.
In a report, Eurostat, the European statistics agency said industrial production declined by a seasonally adjusted 1.8% in August, disappointing forecasts for a 1.6% drop. Industrial production in July rose by 0.9%.
Year-on-year, industrial production fell 1.9% in August from a year earlier, compared to expectations for a 0.9% decline and after rising at a rate of 1.6% in the preceding month.
EUR/USD was trading at 1.2673 from around 1.2684 ahead of the release of the data, while EUR/GBP was at 0.7940 from 0.7945 earlier.
Meanwhile, European stock markets remained lower. The DJ Euro Stoxx 50 inched down 0.7%, France’s CAC 40 shed 0.65%, Germany's DAX lost 0.5%, while London’s FTSE 100 slumped 0.5%.