Italy Industry


Industrial output drops more than expected in February

In February, industrial output fell a seasonally adjusted 0.8% over the previous month. The decline contrasted the revised 1.0% increase recorded in January (previously reported: +0.8%) and exceeded market expectations of a 0.5% contraction. The monthly drop was largely driven by a contraction in manufacturing, whereas the other sectors improved compared to the previous month.

On an annual basis, industrial output dropped a working-day adjusted 3.8%, which represents a deterioration over January's 3.6% decline and marks an 18th consecutive contraction. Despite the subdued annual reading, the trend improved, with annual average growth in industrial production stepping up from minus 6.3% in January to minus 6.0% in February.

FocusEconomics Consensus Forecast panellists see industrial production contracting 2.1% in 2013, which is unchanged from last month's forecast. For 2014, panellists expect industrial output to expand 1.5%.

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Italy Industry Chart

Italy Industry February 2013

Note: Month-on-month changes of seasonally adjusted industrial production and annual average growth rate in %.
Source: National Statistical Institute (Istat).

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