Italy: Industrial production rebounds in January
March 8, 2019
Industrial output jumped 1.7% in January on a month-on-month, seasonally-adjusted basis, contrasting December’s revised 0.7% contraction (previously reported: -0.8% month-on-month). January’s increase came on the back of a sizable rebound in the manufacturing, and electricity, gas, steam and air conditioning sectors. In contrast, mining and quarrying production swung from expansion to contraction. Within the manufacturing sector, the production of textile products and of wood, paper and press products registered the most notable expansions, while the production of pharmaceutical products continued to contract significantly.
On an annual basis, industrial production shrunk 0.8% in January in calendar-adjusted terms, following December’s 5.5% plunge, which had marked the worst contraction in close to six years. Meanwhile, annual average growth in industrial output declined to 0.3% in January, from 0.7% in December, the weakest reading in over three years.
Italy Industrial Production Forecast
FocusEconomics Consensus Forecast panelists see industrial production growing 1.5% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect industrial output to expand 1.3%.