Italy: Industrial production contracts in February
April 10, 2014
In February, industrial output fell a seasonally-adjusted 0.5% over the previous month, which contrasted the 1.1% increase tallied in January. February's figure undershot market expectations which had industrial output falling just 0.3%. The result came on the back of a contraction in manufacturing, while other sectors fared better compared to the previous month.
On an annual basis, industrial output expanded a working-day adjusted 0.4%, which was down from the 1.2% increase recorded in January. Meanwhile, annual average growth in industrial output stepped up from minus 2.7% in January to minus 2.3% in February.
FocusEconomics Consensus Forecast panelists see industrial production contracting 0.9% in 2014, which is up 0.3 percentage points from last month's forecast. For 2015, panelists expect industrial output to expand 1.6%.
Author: Dirina Mançellari, Senior Economist