Weak industrial production could prolong recession
Monday 14 January 2013
Printable
EmailIndustrial output across the eurozone fell for the third straight month in November, official figures showed today, cementing fears that the region remained stuck in recession for the fourth quarter of 2012.
The 0.3 per cent decline reported by statistical agency Eurostat was worse than expected - economists had predicted an output increase of 0.1 per cent during the month.
The rate of decline had eased following the 2.3 per cent and 1 per cent drops reported in September and October, but the figures support dismal market predictions that the recession has deepened.
Year-on-year, industrial production in the 17-member eurozone is down by 3.7 per cent.
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