Euro zone industrial production drops 1.1% in October

Industrial production in the euro zone fell unexpectedly in October, underlining concerns over the outlook for economic growth in the single currency bloc, official data showed on Thursday.

In a report, Eurostat, the European statistics agency said industrial production dropped by a seasonally adjusted 1.1% in October, disappointing expectations for a 0.3% increase.

Industrial production in September was revised to a 0.2% decline, compared to a previously reported drop of 0.5%.

Year-on-year, industrial production increased at an annualized rate of 0.2% in October from a year earlier, below expectations for a 1.1% gain and after rising at a rate of 0.2% in the preceding month. 

Following the release of that data, the euro was lower against the U.S. dollar, with EUR/USD easing down 0.13% to trade at 1.3767.

Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.2%, France’s CAC 40 dipped 0.1%, Germany's DAX inched down 0.45%, while London’s FTSE 100 dropped 0.6%.