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Italy Industrial production January 2024

Italy: Industrial output dips in January

Industrial output slid 1.2% month on month in seasonally adjusted terms in January (December: +1.2% mom). The figure was partly driven by a deterioration in manufacturing production. In addition, mining and quarrying production fell.

On an annual basis, industrial production fell 3.3% in January, which was below December’s 1.6% fall.. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.5%, down from December’s minus 2.1%.

Commenting on the release, ING’s Paolo Pizzoli stated:

“Broad-based weakness across sectors shows that exiting the prolonged soft patch in manufacturing is proving difficult. Against a soft demand backdrop, the accelerated disinflation phase is not yet prompting any supply-side push.”

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