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European industrial production falls in March


Falls in industrial production across the eurozone and the European Union (EU) in March are likely to fuel concerns over economic recovery in the region.
Seasonally-adjusted data from Eurostat, the EU’s statistical office based in Luxembourg, showed that production fell 0.3% in March throughout the eurozone, which is comprised of 17 nations, after a rise of 0.8% in the previous month.
Eurostat figures also showed that industrial output fell by 0.4% across the 27 countries of the EU, having risen by the same figure in February.
Year-on-year the data paints an even bleaker picture, with industrial production in the eurozone down 2.2% in March 2012 compared with the same month last year, and declining by 1.9% in the EU.
Encouragingly, when comparing March this year with the previous month capital goods’ production saw an increase of 1.1% and 0.9% in the eurozone and EU respectively.


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