Italy: Industrial production contracts in September
November 10, 2014
In September, industrial output fell a seasonally-adjusted 0.9% over the previous month, which contrasted the 0.2% increase tallied in August. In addition, September’s reading came in below the 0.2% decrease the markets had expected. The result reflected contractions in all of the components, where mining and quarrying as well as electricity, gas, steam and air condition recorded the steepest decreases.
On an annual basis, industrial output fell a working-day adjusted 2.9%, which followed the 0.7% decrease recorded in August and recorded the steepest fall in more than a year. Meanwhile, annual average growth in industrial output was stable at August’s minus 0.4%, thus remaining at the highest level since February 2012.
Author: Dirina Mançellari, Senior Economist