Italy: Industrial output deteriorates in 2012
February 8, 2013
In December, industrial output rose a seasonally adjusted 0.4% over the previous month. The expansion contrasted the 1.1% fall recorded in November and exceeded the 0.3% increase expected by the market. In addition, the reading marks the first rise after four consecutive contractions. The monthly expansion reflected rebounds in all the three main categories of industrial output.
Compared to the same month the previous year, industrial output dropped a working-day adjusted 6.6%, which represents an improvement compared to November's 7.7% decline but marks a 16th consecutive contraction. Overall in 2012, industrial production contracted 6.6%, contrasting the 0.3% expansion recorded in 2011 and marking the third drop in industrial production in the last five years.
Author: Armando Ciccarelli, Head of Data Solutions