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Eurozone industry slumps

Industrial production in the eurozone fell 18.4% year-on-year in February.

Industrial production in the eurozone fell 18.4% year-on-year in February, according to estimates from Eurostat, the statistical office of the European communities.

Large falls in consumer durable goods (down 22.1% over the year) and intermediate goods (down 24.2%) were largely responsible for the decline, which is the largest since records began in 1990. Energy production fell 3.6%.

The annual fall was marginally less in the 27-nation European Union (EU27), where industrial production fell 17.5%.

Compared with January, industrial production fell 2.3% in the eurozone and was down 1.9% in the EU27. Among the larger member states, Germany saw one of the biggest declines (down 3.2%), while British industrial production fell 1.2%.

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