European Industrial Production Unexpectedly Declines

European industrial production unexpectedly declined in June, led by a drop in durable consumer goods such as furniture and home appliances.

Output in the economy of the 16 nations that use the euro dropped 0.1 percent from May, when it increased 1.1 percent, the European Union’s statistics office in Luxembourg said today. Economists had projected a gain of 0.6 percent, the median of 32 forecasts in a Bloomberg survey showed. From a year earlier, June output gained 8.2 percent.