Industrial output in Italy grew 1.0% in February on a month-on-month seasonally adjusted basis, contrasting the 2.3% fall registered in January and undershooting analysts’ expectations of a 1.5% expansion. The increase came on the back of expansions in both the manufacturing and the mining and quarrying sub-sectors, with the latter marking the best result in five months. Conversely, the electricity, gas, steam and air conditioning sub-sector declined.
On an annual basis, industrial production expanded a working-day adjusted 1.9% in February, contrasting January’s 0.2% drop. Annual average growth in industrial output also improved, increasing from 1.6% in January to 1.7% in February.
FocusEconomics Consensus Forecast panelists see industrial production growing 1.2% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect industrial output to expand 1.0%.