Italy: Industrial production contracts again in February
Industrial output contracted 0.5% in February on a month-on-month, seasonally adjusted basis, a softer decline than January’s revised 1.8% fall (previously reported: -1.9% month-on-month). February’s decrease came on the back of a contraction in the important manufacturing sub-sector, while the mining and quarrying and electricity, gas, steam and air conditioning sub-sectors rebounded from the previous month.
On an annual basis, industrial production expanded 2.5% in February, decelerating notably from January’s 4.4% rise and marking the worst result in ten months. Meanwhile, annual average growth in industrial output remained unchanged at January’s 4.1%.