Italy: Industrial production plunges in January
March 9, 2012
In January, industrial output dropped a seasonally adjusted 2.5% over the previous month. The decline contrasted the 1.2% increase recorded in December and exceeded market expectations of a 1.1% drop. Compared to the same month last year, industrial output dropped 5.1% on a working-day adjusted basis, which was down from December's 1.7% decline and marked the fifth consecutive contraction. As a result, the trend continued to deteriorate, with annual average growth in industrial production falling from 0.1% in December to minus 0.4% in January, which marks the first negative reading since July 2010.
Author: Armando Ciccarelli, Head of Data Solutions