Industrial output fell 1.6% in the 15 nations that made up the euro in November, the statistical agency Eurostat reported Wednesday. On an annual basis, production fell 7.7%. Economists were expecting a steeper monthly decline of 2.1%, according to a survey by Dow Jones Newswires, but the year-on-year decline exceeded forecasts for a 6.7% annual fall. Eurostat revised down its October estimate, showing a 1.6% monthly decline after initially estimating a 1.2% contraction. On an annual basis, October industrial production fell 5.7%, compared to an earlier estimate of 5.3%.

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