Economics
Euro Industry Posts Biggest Annual Slump Since Financial Crisis
- Production drops 0.9% on month, 4.2% from a year earlier
- Decline driven by capital and non-durable consumer goods
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Euro-area industrial production fell more than twice as much as forecast in December, raising further questions over the state of the bloc’s economy.
The 0.9 percent drop -- more than twice the 0.4 percent forecast -- was driven by declines in capital and non-durable consumer goods production. From a year earlier, output plunged the most since 2009, when the economy was dealing with the fallout from the financial crisis.