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Eurozone Industrial Production Declines More Than Expected

Eurozone's industrial production decreased at a faster-than-expected pace in November, preliminary data from the statistical office Eurostat showed on Monday.

Industrial production decreased a seasonally adjusted 1.7 percent from October, when it edged up 0.1 percent, revised from 0.2 percent. Economists had expected a 1.5 percent slump.

Production of capital goods registered a 2.3 percent decline and output of durable consumer goods dropped 1.7 percent.

Intermediate goods output dropped 1.2 and non-durable consumer goods by 1 percent. Energy production decreased 0.6 percent.

On a year-on-year basis, industrial production fell a calendar adjusted 3.3 percent in November after a 1.2 percent increase. Economists had predicted a 2.1 percent slump.

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