Eurozone Industrial Output Falls Again

Industrial production in the eurozone fell for the second straight month in March, casting doubt on the sustainability of the economy’s first-quarter pickup, The Wall Street Journal reported. Figures released in late April showed economic growth in the currency area picked up in the three months through March from the three months through December 2018, in line with signs of resilience from other parts of the global economy. However, data released Tuesday by the European Union’s statistics agency showed that the output of factories, mines and utilities fell 0.3% in March from February, and dropped 0.6% from the same month of 2018. The month-to-month drop was in line with expectations. The March decline followed a smaller drop in February. But thanks to a large increase in January, industrial production was still higher in the first quarter than in the previous three-month period, and contributed to the revival in growth at the start of the year. Read more