Stock indices closed lower on the weaker-than-expected Chinese trade data. The Chinese Customs Office released its trade data on Tuesday. China's trade surplus fell to $54.1 billion in November from $61.64 billion in October, missing expectations for a rise to a surplus of $63.3 billion. Exports fell at an annual rate of 6.8% in November, while imports slid at an annual rate of 8.7%, the thirteenth consecutive decline.
Meanwhile, the economic data from the Eurozone was mixed. Eurostat released its revised gross domestic product (GDP) data for the Eurozone on Tuesday. Eurozone's revised GDP rose 0.3% in third quarter, in line with the preliminary reading, after a 0.4% gain in the second quarter.
On a yearly basis, Eurozone's revised gross domestic product (GDP) increased 1.6% in third quarter, in line with the preliminary reading, after a 1.5% rise in the second quarter.
Household spending gained 0.4% in the third quarter, while gross fixed capital formation was flat.
Exports climbed by 0.2% in the third quarter, while imports rose by 0.9%.
The Bank of France cuts its growth forecast for the fourth quarter on Tuesday. The central bank expects the French economy to expand 0.3% in the fourth quarter, down from the previous estimate of a 0.4% growth.
According to the French Customs, France's trade deficit widened to €4.58 billion in October from €3.59 billion in September, missing expectations for a decline to a deficit of €3.3 billion.
The Office for National Statistics (ONS) released its manufacturing industrial production figures for the U.K. on Tuesday. Manufacturing production in the U.K. fell 0.4% in October, missing expectations for a flat reading, after a 0.9% increase in September. September's figure was revised up from a 0.8% rise.
Manufacturing output was driven by a drop in the repair and maintenance of aircraft and spacecraft, which plunged by 21.5% in October.
On a yearly basis, manufacturing production in the U.K. decreased 0.1% in October, missing forecast of a 0.1% gain, after a 0.4% drop in September. September's figure was revised up from a 0.6% decrease.
Industrial production in the U.K. climbed 0.1% in October, in line with forecasts, after a flat reading in September. September's figure was revised up from a 0.2% decline.
The increase was driven by a rise in the production of oil, water and power.
On a yearly basis, industrial production in the U.K. gained 1.7% in October, exceeding expectations for a 1.2% rise, after a 1.5% increase in September. September's figure was revised up from a 1.1% rise.
The National Institute of Economic and Social Research (NIESR) released its estimate of gross domestic product (GDP) for the U.K. on Tuesday. The GDP estimate rose by 0.6% in three months to November, after a 0.5% growth in three months to October. The previous figure was revised down from a 0.6% growth.
"This rate of growth is consistent with the continued absorption of spare capacity in the UK economy and our own view that the Bank of England is most likely to begin to increase rates in February 2016," the NIESR said.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,135.22 -88.30 -1.42 %
DAX 10,673.6 -212.49 -1.95 %
CAC 40 4,681.86 -74.55 -1.57 %