Industrial output drops four times below EU average

In the euro zone, industrial output dropped 0.5 percent month-on-month. In the European Union, the drop was caused by a slowdown in output in the major euro zone economies, Germany, France, Italy, and Spain. However, the outcome is better than pessimistic estimates by analysts, who feared a 0.8 percent drop in industrial production.

Although lower month-on-month, the average EU production was higher in November 2007, compared to November 2006, up 2.6 percent. Growth was 2.7 percent in the euro zone. Romania’s industrial output registered an increase above the EU average, at 3.9 percent.