BREAKING NEWS

BREAKING NEWS

Euro zone inflation and industrial output fall

Now Reading:

Euro zone inflation and industrial output fall

Text size Aa Aa

The recession continues to effect both purchasers and producers.

Inflation in the euro zone halved to an all-time low in March according to the European Union statistics office which also said industrial output in the region plummeted by a record 18.4 percent year-on-year in February. Consumer prices rose just 0.4 percent in March from February and 0.6 percent from a year earlier. Economists predict the first negative year-on-year inflation reading will be in June or maybe even next month. Industrial production in the 16 countries using the euro fell 2.3 percent against January, the sixth straight month of decline, The figures increase the pressure on the European Central Bank to further cut interest rates.