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Industrial production in the eurozone experienced a significant decline in September, raising further concerns about economic growth within the region, according to official data released on Wednesday.
The European statistics agency, Eurostat, reported a seasonally adjusted decrease of 2.5% in industrial production for September, which was worse than the anticipated 1.9% decline. In contrast, industrial production had increased by 0.9% in August.
On a year-over-year basis, industrial production saw an annualized drop of 2.3% in September, following a 1.3% decline in the previous month. Analysts had forecasted a yearly decline of 2.2%.
In the wake of this data, the euro maintained a stronger position against the U.S. dollar, gaining 0.39% to trade at 1.2754.
European stock markets exhibited mixed results. The EURO STOXX 50 rose by 0.2%, France’s CAC 40 climbed 0.1%, and Germany’s DAX also advanced by 0.1%, while London’s FTSE 100 experienced a decline of 0.4%.
