Industrial Production Falls in Europe

Industrial output, which grew 1.3% across Europe (1.6% in the eurozone) in November, dropped 0.7% in both regions in December, according to Eurostat, the EU's statistical office.

The unexpectedly large decline worries economists that the region's recovery is losing momentum. Analysts say the data put pressure on the European Central Bank to apply new economic stimulus in March.

Compared to November, December's output of capital goods dropped 1.9% in the EU28 and 2.1% in the eurozone, according to Eurostat. Year-on-year output fell 0.3% in the eurozone but rose 0.7% in the EU28.

For the full year, average industrial production fell 0.5% in the EU28 and 0.8% in the eurozone compared with 2012.