Investing.com - Industrial production in the euro zone rose more-than-expected in November, easing concerns over the outlook for economic growth in the single currency bloc, official data showed on Tuesday.
In a report, Eurostat, the European statistics agency said industrial production increased by a seasonally adjusted 1.8% in November, beating expectations for a 1.4% gain. Industrial production in October was revised to a 0.8% decline, compared to a previously reported drop of 1.1%.
Year-on-year, industrial production increased at an annualized rate of 3% in November from a year earlier, easily surpassing expectations for a 1.4% gain and after rising at a rate of 0.5% in the preceding month.
Following the release of that data, the euro was modestly lower against the U.S. dollar, with EUR/USD easing down 0.01% to trade at 1.3671.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.5%, France’s CAC 40 dipped 0.45%, Germany''s DAX shed 0.6%, while London’s FTSE 100 dropped 0.4%.