Italy: Industrial production decelerates in April
June 10, 2015
In April, industrial output fell a seasonally-adjusted 0.3% over the previous month, contrasting the 0.5% increase tallied in March. April’s reading significantly undershot market expectations of a 0.2% rise and marked a three-month low. The result was driven by a contraction over the previous month in the electricity, gas, steam and air conditioning supply sector as well as the manufacturing sector. Conversely, mining and quarrying recorded a significant expansion and grew at the fastest rate since June 2013.
On an annual basis, industrial production grew a working-day adjusted 0.1% in April, decelerating from the 1.4% increase tallied in March. Annual average growth in industrial output inched down from March’s minus 0.7% to minus 0.8% in April.
Author: Eric Denis , Economist