Italy: Industrial production flat in November
January 12, 2018
Industrial output remained flat in November on a month-on-month seasonally adjusted basis, following October’s 0.6% expansion and coming in slightly below analysts’ expectations. The result came on the back of an expansion in the manufacturing sub-sector, while the the electricity, gas, steam and air conditioning sub-sector remained broadly stable, and the mining and quarrying sub-sector contracted sharply over the previous month. The manufacturing sub-sector was particularly influenced by the notable growth recorded in the production of means of transport and pharmaceutical products.
On an annual basis, industrial production expanded by a working-day adjusted 2.2% in November, following October’s stronger 3.0% rise. November marked the 10th consecutive month of year-on-year growth. Annual average growth in industrial output, however, inched down to 3.2% in November, below October’s 3.3%.
Italy Industrial Production Forecast
FocusEconomics Consensus Forecast panelists see industrial production growing 1.6% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect industrial output to expand 1.5%.