Italy Industry January 2017

Italy

Italy: Industrial production drops in January

February 14, 2017

Industrial output fell 2.3% in January on a month-on-month seasonally adjusted basis, strongly contrasting the 1.4% expansion registered in December. The reading represented the worst result since January 2012 and considerably undershot the softer 0.8% decline analysts had expected. The fall came on the back of contractions in both the manufacturing and the mining and quarrying sub-sectors, with the former marking the worst result in five years. Conversely the electricity, gas, steam and air conditioning sub-sector grew.

On an annual basis, industrial production declined a working-day adjusted 0.5% in January, contrasting December’s 6.8% growth and marking the weakest print in seven months. Annual average growth in industrial output also dropped, decreasing from 1.9% in December to 1.6% in January.

FocusEconomics Consensus Forecast panelists see industrial production growing 1.2% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect industrial output to expand 1.0%.


Author: Massimo Bassetti, Economist

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Italy Industry January 2017 0

Note: Month-on-month changes of seasonally-adjusted industrial production and annual growth rate in %.
Source: National Statistical Institute (Istat) and FocusEconomics calculations.


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