Italy: Industrial production rebounds in January
March 10, 2014
In January, industrial output expanded a seasonally-adjusted 1.0% over the previous month, which contrasted the 0.8% drop recorded in December. January's increase beat market expectations of a 0.4% expansion. The result stemmed from a rebound in manufacturing, which recovered from the December contraction, while the other sectors fared worse compared to the previous month. On an annual basis, industrial output expanded a working-day adjusted 1.4%, which contrasted the 0.7% drop recorded in December. Meanwhile, annual average growth in industrial output stepped up from minus 2.9% in December to minus 2.5% in January. FocusEconomics Consensus Forecast panelists see industrial production contracting 0.9% in 2014, which is up 0.3 percentage points from last month's forecast. For 2015, panelists expect industrial output to expand 1.6%.
Author: Armando Ciccarelli, Head of Data Solutions