News Summary: Eurozone industrial output declines

GRIM NEWS: Industrial output across the 17 European Union countries that use the euro fell in November for the third straight month, raising fears that the recession in the region has continued into the last three months of 2012.

MISSED FORECAST: Economists had expected that output would increase 0.1 percent, but the EU's statistics office reported a 0.3 percent decline.

THE STANDOUT: In Germany, Europe's largest economy, output rose by a monthly rate of 0.1 percent.