European production tumbles, but not as much as predicted
Wednesday, June 24th, 2009Author : Biz2Credit Advisor
It’s become a familiar story as business tries to find it’s footing in a struggling economy a bit of good news wrapped in a lot of bad news.
European production fell nearly 19 percent, but at least it was less than the month-to-month drop predicted by economists, according to this April 16 report in SME Times of India,
European industrial production plunged by an annual 18.4 percent in February, according to data released earlier in the month, the SME Times said, a sign the global recession was worsening.
The silver lining was that the European Union’s (EU) statistics office, Eurostat, said the month-on-month February fall was less than the 2.7 percent drop predicted.
Other statistics released include notes on inflation, which came in under expectations in March as food and fuel costs eased.
SME Times said the ongoing weakness and inflation issues would to help strengthen the case for the European Central Bank to deliver another rate cut next month.
In other news, industrial production within the European Union dropped 17.5 percent.
This article was submitted by Kathleen O’Connor, a contributing writer for Biz2Credit. Biz2Credit is a small business marketplace that provides entrepreneurs with the latest industry news and financial advice. Send all questions to info@biz2credit.com.
Tags: European Central Bank, European industrial production, European Union's, Eurostat
