Euro Area Industrial Output Falls 1.4% for October

Factory production fell 1.4% in the euro area in October, according to the European Union statistical commission, Eurostat, continuing a downward trend for industrial output in the recession-plagued region. In comparison with October 2011, production fell 3.6% year-over-year.

The decline was actually less than September's fall, when industrial output dropped 2.3%. However, capital goods fell by 3% in the euro area as well, joined by a 3.8% reduction in the production of durable consumer goods and a 1.5% fall in the production of energy.

Many of the euro area's most prominent nations suffered the hardest hits in October. Industrial production suffered the most in Ireland, falling more than 16%, but Italy, the third-largest euro area economy, already caught up in the sixth straight quarter of recession and the announcement of Prime Minister Mario Monti's early resignation, saw further bad news as factory output declined more than 6%. Germany's output also fell 3.8%, with France's down 3%. Germany, France, and Italy make up a significant majority of the euro area's industrial output, with their declines helping to push the overall production figure lower.

Outside of the common euro area, the United Kingdom also saw factory output dip 3.5% for October after it fell a similar amount in September.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2150626, ~/Articles/ArticleHandler.aspx, 4/24/2014 2:10:09 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

TREND TRACKER: Get Rich When the Web Goes Dark

It's time to say "goodbye" to your Internet! One bleeding-edge technology is about to put the World Wide Web to bed. And if you act right away, it could make you wildly rich. Experts are calling it the single largest business opportunity in the history of capitalism… The Economist is calling it "transformative"... but you'll probably just call it "how I made my millions." Big money is already on the move. Don't be too late to the party – find out the 1 stock to own when the Web goes dark.