Italy: Industrial production improves in February
April 13, 2015
In February, industrial output rose a seasonally-adjusted 0.6% over the previous month, which contrasted the 0.7% decrease tallied in January. February’s result marked the highest print in eight months and slightly overshot market expectations of a 0.5% rise. The result was driven by a significant improvement in manufacturing production, which rebounded following the mild contraction that was recorded in January. Electricity, gas, steam and air conditioning supply increased further in February over the previous month. Conversely, mining and quarrying deteriorated sharply and posted a strong contraction in February.
On an annual basis, industrial output fell a working-day adjusted 0.2% in February, which was a much less pronounced drop than the 2.2% decline observed in the previous month. Despite the improvement, annual average growth in industrial output remained unchanged at January’s minus 0.8% in February.
Author: Cecilia Simkievich, Economist