Italy: Industry rebounds in August
October 10, 2014
In August, industrial output rose a seasonally-adjusted 0.3% over the previous month, which contrasted the 1.0% decrease tallied in July. However, August’s reading came in below the 0.5% increase the markets had expected. The result reflected a rebound in manufacturing as well as in mining and quarrying. In addition, electricity, gas, steam and air conditioning sector performed better compared to the previous month.
On an annual basis, industrial output fell a working-day adjusted 0.7%, which followed the 1.6% decrease recorded in July. Meanwhile, annual average growth in industrial output stepped up from minus 0.7% in July to minus 0.3% in August, thus reaching the highest level since February 2012.
Author: Dirina Mançellari, Senior Economist