Significant acceleration in industrial production in ItalyStaff Writer | February 16, 2017
Industrial output grew 1.4% in December on a month-on-month seasonally adjusted basis.
Italian economy Industrial output grew 1.4%
Growth came on the back of a stronger expansion in the manufacturing sub-sector, while growth in the electricity, gas, steam and air conditioning sub-sector decelerated and the mining and quarrying sub-sector swung from expansion to contraction.
On an annual basis, industrial production expanded a working-day adjusted 6.6% in December, accelerating from November’s 3.3% growth and marking the strongest pace of growth since August 2011.
Annual average growth in industrial output also grew, rising from 1.3% in November to an over five-year high of 1.9% in December.
FocusEconomics Consensus Forecast panelists see industrial production growing 1.2% in 2017, which is unchanged from last month’s forecast.
For 2018, panelists expect industrial output to expand 1.0%. ■