Italy: Industrial production contracts in JanuaryStaff Writer | March 20, 2018
Industrial output in Italy contracted 1.9% in January on a month-on-month, seasonally adjusted basis, contrasting December’s revised 2.1% expansion (previously reported: +1.6% month-on-month).
The reading represented a sharper contraction than analysts’ expectations of a 0.7% decease. It came on the back of broad-based contractions: The manufacturing, mining and quarrying and electricity, gas, steam and air conditioning sub-sectors contracted.
However, within the manufacturing sector, production in the textile, clothing, leather and accessories industries expanded.
On an annual basis, industrial production expanded by a strong working-day adjusted 4.0% in January, decelerating from December’s 5.4% rise. Meanwhile, annual average growth in industrial output rose to a multi-year high of 4.0% in January, above December’s 3.7%.
FocusEconomics Consensus Forecast panelists see industrial production growing 1.6% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect industrial output to expand 1.5%. ■