Industrial output sank in several European economies in October as the slowing economy and falling sales forced factories to scale back production in the car industry and other hard-hit sectors. Analysts said November and December will be even worse. In France car production plummeted 14.3 percent – the sharpest drop since August 1999 – in Italy it was down 5.8 percent. Compared with the same month last year, overall industrial output in October fell 7.2 percent in France – the largest decline since such records began in 1991. It was down 7.1 percent in Sweden, 6.9 percent in Italy and 4.5 percent in Greece.On the basis of those figures , economists said they would scale back their already-negative outlooks for gross domestic product in the fourth quarter. They also pointed out that order bookings are very weak, which is not a good sign looking forward. Data released earlier this week showed that industrial output in Europe’s biggest economy, Germany, also fell by more than expected in October.
Output slumps across Europe