Italy: Expansion in industrial production accelerates in January
March 9, 2021
Industrial output rose 1.0% in January on a month-on-month, seasonally-adjusted basis. The reading followed December’s softer 0.2% uptick.
December’s softer decline reflected a increases in the manufacturing and mining and quarrying sectors more than offsetting a deterioration in the energy sector. Within the all-important manufacturing sector, the largest increase was recorded in the production of electrical equipment.
On an annual basis, industrial production contracted 2.4% in January in calendar-adjusted terms, following December’s less pronounced 1.6% drop. Meanwhile, the annual average variation in industrial production deteriorated from December’s minus 10.9% to minus 11.1% in January.