Italy: Industrial production rebounds in October
December 13, 2017
Industrial output expanded 0.5% in October on a month-on-month seasonally adjusted basis, contrasting September’s 1.3% drop and coming in slightly below analysts’ expectations. The result came on the back of an expansion in both the manufacturing and the electricity, gas, steam and air conditioning sub-sectors, while the mining and quarrying sub-sector contracted over the previous month. The manufacturing sub-sector was particularly influenced by the notable growth recorded in the production of means of transport, chemical and refined petroleum products.
On an annual basis, industrial production expanded by a working-day adjusted 3.1% in October, following September’s softer 2.2% rise. October marked the ninth consecutive month of year-on-year growth. Annual average growth in industrial output rose to an over six-year high of 3.3% in October, up from 3.1% in September.