Industrial output across the 17 European Union countries that use the euro fell in November for the third straight month, official figures showed Monday, raising fears that the recession in the region has continued into the last three months of 2012. According to AP, the 0.3 percent monthly decline reported by Eurostat, the EU's statistics office, was worse than expected and felt across the whole economy. The consensus in the markets was that output would increase a modest 0.1 percent during the month. Even though the rate of decline had eased following the 2.3 percent and 1 percent drops reported in September and October, respectively, the figures are likely to cement market expectations that the recession in the eurozone has deepened. Year-on-year, industrial production in the eurozone was down by 3.7 percent.
