Italy: Industrial production remains mired in the red
January 14, 2013
In November, industrial output dropped a seasonally adjusted 1.0% over the previous month. The decline was smaller than the 1.1% fall recorded in October but larger than the 0.2% contraction expected by the market. The decline was driven by contractions in the three main sectors of economic activity.
Compared to the same month the previous year, industrial output dropped a working-day adjusted 7.6%, which represents a deterioration compared to October's 6.1% decline and marks a 15th consecutive contraction. As a result, the trend continues to point downwards, with the annual average variation in industrial production stepping down from minus 5.8% in October to minus 6.1% in November.
Author: Armando Ciccarelli, Head of Data Solutions