Eurozone industry output shrinks, stokes talk of recession


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.”

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