Italy: Industrial production unexpectedly rises in December
February 10, 2012
In December, industrial output rose a seasonally adjusted 1.4% over the previous month, which was well above the 0.3% increase recorded in November and contrasted market expectations of a 0.5% drop. Compared to the same month the previous year, industrial output dropped 1.7% on a working-day adjusted basis, which was up from November's 4.0% decline but, nonetheless, marked the fourth consecutive contraction. Overall in 2011, industrial production growth was flat, which represented a sizable deterioration compared to the 6.4% expansion recorded in 2010.
Author: Armando Ciccarelli, Head of Data Solutions