Euro-Area Industrial Production Unexpectedly Declines: Economy

Euro-area industrial production unexpectedly fell in November, adding to signs the 17-nation currency bloc’s recession deepened in the fourth quarter.

Output in the euro area dropped 0.3 percent from October, when it declined a revised 1 percent, the European Union’s statistics office in Luxembourg said today. Economists had forecast an increase of 0.2 percent, according to the median of 37 estimates in a Bloomberg News survey. Output fell 3.7 percent from the year-earlier period.