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Eurozone Factory Output Shrinks Again
Industrial production in the 19-country eurozone shrank 0.8% in March, following a 1.2% decline in February, Eurostat reports.
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Industrial production in the 19-country eurozone shrank 0.8% in March, following a 1.2% decline in February, Eurostat reports.
The back-to-back contractions erase most of January’s 2.4% expansion and may prompt the EU’s statistics agency on Friday to downwardly adjust its first-quarter growth estimate. Eurostat previous predicted 0.6% growth for the period.
The agency notes that economic shrinkage in March touched all major sectors except energy. Last year the eurozone’s economy expanded by 1.5%.
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