Italy: Industrial production accelerates in October
December 10, 2013
In October, industrial output rose a seasonally-adjusted 0.5% over the previous month, which was the strongest growth in nine months. The reading was up from the 0.2% increase recorded in September and came in above market expectations of a 0.3% increase. The improvement was broad-based as all the main sectors of industrial activity fared better compared to the previous month.
On an annual basis, industrial output fell a working-day adjusted 0.5%, which was smaller than the 2.9% drop recorded in September. On an annual basis, industrial production has been contracting for 26 consecutive months. Meanwhile, annual average growth in industrial output rose from minus 4.7% in September to minus 4.3% in October.
FocusEconomics Consensus Forecast panelists see industrial production contracting 3.2% in 2013, which is down 0.3 percentage points from last month's forecast. For 2014, panelists expect industrial output to expand 0.8%, which is down 0.1 percentage points from last month's projection.
Author: Armando Ciccarelli, Head of Data Solutions