The catastrophic economic development of the eurozone makes it clear what is now needed to cure it: more EU regulation, further increasing fiscal burdens, the expansion of the welfare state at the expense of the productive part of society, higher minimum wages or even further climate regulations and deeper involvement in the Ukrainian war.

The data:

Industrial production in the Eurozone has declined for the fifth consecutive month, as the sector struggles to reverse a persistent economic downturn led by its largest member - Germany.

According to Eurostat, the EU's statistical agency, industrial output (excluding construction) fell by a seasonally adjusted 2.0% in September compared to the previous month. Economists polled by Dow Jones Newswires had expected a more modest 1.2% decline.

Compared to the same period a year earlier, Eurozone industrial production was 2.8% lower, surpassing the 1.6% drop predicted by analysts. In Germany, Europe's industrial powerhouse, production slumped by 2.7% month-over-month and 4.5% year-on-year.

The production of capital goods decreased by 3.8% in the Eurozone compared to the prior month, while intermediate goods stagnated. On an annual basis, capital goods output fell by 6.4%, and intermediate goods production was down 2.6%.