Italy: Industrial production contracts in February
April 11, 2016
In February, industrial output dropped a seasonally-adjusted 0.6% over the previous month, which contrasted the revised 1.7% increase tallied in January (previously reported: +1.9% month-on-month) and marked the lowest reading in eight months. February’s reading overshot market expectations of a 0.9% decrease. The result mainly reflected deteriorations in the energy sector, which hit a six-month low, and was also affected by small deteriorations in the manufacturing sector.
On an annual basis, industrial production grew a working-day adjusted 1.2% in February, which represented a slowdown compared to the revised 3.8% increase tallied in January (previously reported: +3.9% year-on-year). Annual average growth in industrial output inched up from January’s revised 1.5% increase (previously reported: +1.4% yoy) to a 1.6% rise in February.