14 May, 2012

European production falls back in March

14 May, 2012

The European industrial production fell by 0.3% in March, figures have shown, raising concerns that the bloc has returned to recession.  One of the leading factors behind the monthly fall was an 8.5% drop in energy production.  On Tuesday, the statistics agency will release its first estimate for eurozone GDP between January and March, with many economists expecting a second consecutive quarter of negative growth.

Industrial production in the Netherlands fell by 9% in March from February, compared with an 11% rise in the previous month.

Spanish production fell by 1.8%, while that in Greece contracted by 1%. Production in Germany rose by 1.3%.

Credit: BBC/Reuters