Italy: Contraction in industrial production softens in December
Industrial output dipped 0.2% in December on a month-on-month, seasonally-adjusted basis. The reading followed November’s sharper 1.4% drop.
December’s softer decline reflected a milder fall in the manufacturing sector as well as a turnaround in the utilities sector which more than offset a deterioration in the mining and quarrying sector. Within the all-important manufacturing sector, the largest fall was recorded in the production of means of transportation.
On an annual basis, industrial production contracted 2.0% in December in calendar-adjusted terms, following November’s more pronounced 4.2% drop. Meanwhile, the annual average variation in industrial production improved from November’s minus 11.1% to minus 11.0% in December.