Italy: Industrial production grows at fastest pace in almost three years
June 10, 2014
In April, industrial output rose a seasonally-adjusted 0.7% over the previous month, which contrasted the 0.4% contraction tallied in March. April’s reading overshot the 0.4% expansion the markets had expected. The result came on the back of a rebound in all of the sub-components of the index.
On an annual basis, industrial output expanded a working-day adjusted 1.6%, which contrasted the 0.1% decrease recorded in March and marked the highest growth rate since August 2011. Meanwhile, annual average growth in industrial output stepped up from minus 1.8% in March to minus 1.3% in April, thus reaching the highest level since March 2012.
Author: Dirina Mançellari, Senior Economist