Eurozone Factory Output Still Falling

Industrial production in the eurozone declined for a third consecutive month in February, an indication that economic growth may be slowing as the European Central Bank is to take a key decision over its stimulus program, MNA reported. The European Union’s statistics agency reported last week that industrial output fell by 0.8% month-on-month in February, following a 0.6% drop in January. This was the third consecutive drop and came in contrast to the expected growth of 0.1%. If sustained, a drop in output would make it difficult for the economy to expand at a similar rate as last year. Meanwhile, economic growth in the UK eased in the first quarter as severe weather disrupted activity across major sectors in March, the National Institute of Economic and Social Research reported last week. According to monthly estimates of GDP, output growth eased to 0.2% in the first quarter of 2018 from 0.4% in the fourth quarter of 2017, the think-tank said.