Italy: Industrial production moderates in March
May 7, 2015
In March, industrial output rose a seasonally-adjusted 0.4% over the previous month, slowing down from the 0.7% increase tallied in February. March’s reading slightly overshot market expectations of a 0.3% rise. The result was driven by a mild contraction over the previous month in the electricity, gas, steam and air conditioning supply sector. In addition, manufacturing sector growth decelerated compared to the previous month in March. Conversely, mining and quarrying rebounded and recorded a minor expansion, which contrasted the sharp decline recorded in February.
On an annual basis, industrial production grew a working-day adjusted 1.5% in March, contrasting the 0.1% decline tallied in February. The reading marked an over-three-year high. Annual average growth in industrial output inched up from February’s minus 0.8% to minus 0.7% in March.
Author: Eric Denis , Economist