European industrial production dropped the most on record in December, pointing to a deepening economic slump in the fourth quarter. Output in the euro region fell 12 percent from a year earlier after an 8.4 percent decline in November, the European Unionâs statistics office in Luxembourg said today. The December drop was larger than the 9.5 percent median estimate of 19 economists in a Bloomberg survey and was the biggest since the data series began in 1986. From the previous month, production fell 2.6 percent. http://www.bloomberg.com/apps/news?pid=20601068&sid=aAhQWjQa9Y7Q&refer=economy Germany, France, Italy, Spain et al. living in denial land...