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Euro-Zone Industrial Production Hits 18-Year Low as Demands Falter
Wednesday, 14 January 2009 09:17:55 GMT
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Industrial production in the Euro-Zone posted its biggest annually decline in 18-years as outputs fell another 1.6% in November, following the 1.2% contraction in the previous month, and lowered the annual rate to -7.7% from -5.7%. The breakdown of the report showed that production of intermediate goods fell 2.8% during the month, which was followed by a 1.8% decline in capital goods. The data continues to reflect a dour outlook for the economies operation under the euro, and conditions are likely to get worse as demands from the global economy falter.
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