BRUSSELS (AP) — Official figures show that business across the 19-nation eurozone endured in 2018 its worst yr because the recession after the worldwide financial disaster, with a broad-based mostly slowdown across nations and sectors.
Statistics company Eurostat stated Wednesday that industrial output in the single foreign money bloc was four.2 % decrease in December than the yr earlier than. That’s the worst efficiency since November 2009.
The figure was weighed down by a much bigger than anticipated month-on-month decline. In December, output was down zero.9 % towards expectations for a zero.four % fall.
The news might ratchet up expectations that eurozone progress within the fourth quarter may be revised down from a quarterly price of zero.2 %.
Andrew Kenningham, chief European economist at Capital Economics, stated the “danger of an outright recession has clearly risen.”