Brussels, 20/01/2012 (Agence Europe) - A report published by the European Commission on 19 January highlights the deterioration in the economic outlook for EU industry. Although 1% higher than a year ago, European manufacturing production fell by 1% between the third and fourth quarters of 2011. It stands at 13% above its lowest point, in early 2009, and some 9% below its peak, at the start of 2008. Peak output has been surpassed in a number of sectors - pharmaceuticals, other transport equipment, beverages and food - while the biggest contractions in production have occurred in textiles, furniture, leather, printing and computer industries. Forecasts remain positive for services, including tourism, but their performance will depend on the general economic situation, the Commission says. Continued high energy prices, fiscal consolidation and persistent difficulties in accessing finance because of the eurozone debt crisis have eroded business confidence. (EH/transl.rt)