Italy: Industrial production falls sharply in December
February 10, 2020
Industrial output dived 2.7% in December on a month-on-month, seasonally-adjusted basis, following November’s flat reading and logging the sharpest contraction in almost two years.
December’s slump reflected a downturn in both the manufacturing and the mining and quarrying sectors as well as a sharper contraction in the production of electricity, gas, steam and air conditioning. Within the important manufacturing sector, the largest drops were recorded in the production of pharmaceutical products and of rubber products.
On an annual basis, industrial production tumbled 4.3% in December in calendar-adjusted terms, following November’s softer 0.8% fall. Meanwhile, annual the average variation in industrial output improved from minus 1.5% in November, to minus 1.4% in December.