Italy: Industrial production picks up in November
January 12, 2012
In November, industrial output rose a seasonally adjusted 0.3% over the previous month, which contrasted the 0.9% drop recorded in October and marked, in fact, the first increase following two consecutive contractions. The November result contrasted market expectations of a 0.3% drop. Compared to the same month the previous year, industrial output dropped 4.0% on a working-day adjusted basis, edging up from October's 4.1% decline but marking the third consecutive month of contraction. As a result of November's reading, the trend deteriorated notably, with annual average growth in industrial production falling from 1.4% in October to 0.6% in November.
Author: Armando Ciccarelli, Head of Data Solutions