Italy: Industrial production contracts in April
June 12, 2017
Industrial output in Italy declined 0.4% in April on a month-on-month seasonally adjusted basis, contrasting the 0.4% increase registered in March and analysts’ expectations of a 0.2% expansion. The contraction came on the back of declines in the manufacturing and mining and quarrying sub-sectors—the former being negatively influenced by a notable drop in the production of means of transportation—which more than offset a turnaround in the electricity, gas, steam and air conditioning sub-sector.
On an annual basis, industrial production expanded a working-day adjusted 1.0% in April, decelerating from March’s 2.9% rise. Annual average growth in industrial output also deteriorated, decreasing from 1.9% in March to 1.8% in April.