Eurozone industrial production falls short of estimates

Eurozone industrial production fell 0.7% in November from October, according to data released by Eurostat.

The drop was steeper than the 0.3% slip expected by economists and marked the biggest month-on-month fall since August 2014.

The energy sector paced the decline, sliding 4.3%, while capital goods were down 1.9% and durable consumer goods edged 1% lower.

On the year, production was up 1.1%, falling short of expectations for a 1.3% increase.

Portugal, Malta, the Netherlands, Estonia and Lithuania saw the largest drops in industrial production, while Greece and Slovakia saw the biggest increases.