14 May, 2012

European production falls back in March

The European industrial production fell by 0.3{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} in March, figures have shown, raising concerns that the bloc has returned to recession.  One of the leading factors behind the monthly fall was an 8.5{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} drop in energy production.  On Tuesday, the statistics agency will release its first estimate for eurozone GDP between January and March, with many economists expecting a second consecutive quarter of negative growth.

Industrial production in the Netherlands fell by 9{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} in March from February, compared with an 11{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} rise in the previous month.

Spanish production fell by 1.8{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e}, while that in Greece contracted by 1{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e}. Production in Germany rose by 1.3{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e}.

Credit: BBC/Reuters


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