Investing.com - Industrial production in the euro zone fell more-than-expected in December, fuelling concerns over the outlook for economic growth in the single currency bloc, official data showed on Wednesday.
In a report, Eurostat, the European statistics agency said industrial production declined by a seasonally adjusted 0.7% in December, compared to expectations for a 0.3% drop. Industrial production in November was revised to a 1.6% gain, from a previously reported increase of 1.8%.
Year-on-year, industrial production increased at an annualized rate of 0.5% in December from a year earlier, below expectations for a 1.8% gain and after rising at a rate of 2.8% in the preceding month.
Following the release of that data, the euro was modestly higher against the U.S. dollar, with EUR/USD easing up 0.01% to trade at 1.3640.
Meanwhile, European stock markets held on to gains. The EURO STOXX 50 rose 0.8%, France’s CAC 40 added 0.6%, Germany''s DAX tacked on 0.9%, while London’s FTSE 100 picked up 0.35%.
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