Italy: Industrial production rebounds strongly in August
October 10, 2016
In August, industrial output increased 1.7% from the previous month, accelerating from July’s revised 0.7% increase (previously reported: +0.4% month-on-month). The reading marked a seven-month high and contrasted market expectations of a 0.1% drop. The increase was due to a broad-based expansion in all sectors, with the mining and quarrying sector expanding the most.
On an annual basis, industrial production grew a working-day adjusted 4.1% in August, which was the highest reading since August 2011 and contrasted July’s 0.3% decline. The overall trend improved as annual average growth in industrial output rose from July’s 1.0% to 1.2% in August.