Italy: Industrial production rebounds timidly in November
Industrial output inched up 0.1% in November on a month-on-month, seasonally-adjusted basis, contrasting October’s 0.3% decrease.
November’s uptick reflected a rebound in the manufacturing sector and stronger growth in the mining and quarrying sector more than offsetting a sharper contraction in the production of electricity, gas, steam and air conditioning. Within the important manufacturing sector, the largest increases were recorded in the production of means of transport and of rubber products.
On an annual basis, industrial production dipped 0.6% in November in calendar-adjusted terms, following October’s 2.4% fall. Meanwhile, annual the average variation in industrial output improved from minus 1.7% in October, which had marked the lowest reading in over five years, to minus 1.5% in November.