Euro zone industrial production falls as expected in October

FILE PHOTO: Unfinished pliers still glow after being hot-formed by a hammer at the factory of Knipex, a 130 year-old family-owned pliers and tools maker company in Wuppertal, western Germany, October 25, 2016. REUTERS/Wolfgang Rattay

BRUSSELS – Euro zone industrial production fell as expected in October because of a decline in the output of capital goods used for investment, estimates from the European Union’s statistics office Eurostat showed on Thursday.

Eurostat said production in the 19 countries sharing the euro fell 0.5% month-on-month for a 2.2% year-on-year decline.

Economists polled by Reuters had expected the 0.5% monthly fall and forecast a 2.3% annual deterioration.

Capital goods production fell by 2% on the month for a 3.6% year-on-year fall, pulling down the whole index, even though the output of durable and non-durable consumer goods rose.

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