Italy: Industrial production improves in October
December 11, 2014
In October, industrial output fell a seasonally-adjusted 0.1% over the previous month, which was an improvement over the 0.9% contraction tallied in September. The decrease contrasted the 0.3% increase the market had expected. The result reflected a contraction in the electricity, gas, steam and air condition sector while the manufacturing sector recorded flat growth. In contrast mining and quarrying rebounded from a 2.9% contraction in September to 2.8% expansion in October.
On an annual basis, industrial output fell a working-day adjusted 3.0%, which followed the revised 2.7% decrease recorded in September (previously reported: -2.9% year-on-year) and recorded the steepest fall in more than a year. Meanwhile, annual average growth in industrial output fell from minus 0.4% in September to 0.6% in October.
Author: Dirina Mançellari, Senior Economist