Italy: Industrial production contracts in January
March 11, 2015
In January, industrial output fell a seasonally-adjusted 0.7% over the previous month, which contrasted the 0.4% increase tallied in December. January’s result marked the lowest reading in four months and undershot market expectations of a 0.2% rise. The result was driven by a significant contraction in manufacturing production, which had posted a mild expansion in December. Conversely, electricity, gas, steam and air conditioning, as well as mining and quarrying, recorded stronger increases in January compared to the previous month.
On an annual basis, industrial output dropped a working-day adjusted 2.2% in January, which contrasted the 0.1% increase observed in the previous month and marked a three-month low. As a result, annual average growth in industrial output declined from minus 0.7% in December to minus 1.0% in January.
Author: Cecilia Simkievich, Economist