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Significant acceleration in industrial production in Italy

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Staff Writer | February 16, 2017
Industrial output grew 1.4% in December on a month-on-month seasonally adjusted basis.
Italian factory
Italian economy   Industrial output grew 1.4%
This is a significant acceleration from the 0.8% expansion registered in November and overshooting analysts’ expectations of a flat reading.

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%.


 

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