Italy: Industrial production expands in March
May 10, 2012
In March, industrial output rose a seasonally adjusted 0.5% over the previous month. The increase contrasted the 0.7% drop recorded in February and marked the first monthly rise in output after two consecutive contractions. In addition, the result beat market expectations of a 0.1% rise. Compared to the same month last year, industrial output dropped 5.8% on a working-day adjusted basis, which was up from February's 6.8% decline but, nonetheless, marked the seventh consecutive contraction. That said, the trend continues to deteriorate, with the annual average variation in industrial production falling from minus 1.0% in February to minus 1.9% in March.
Author: Armando Ciccarelli, Head of Data Solutions