Financial News: Italy Industrial Output Rebounds 0.1%, Less Than Forecast

Italy Industrial Output Rebounds 0.1%, Less Than Forecast

04/11/2024 - 04:52:00 (RTTNews)

(RTTNews) - Italy's industrial production increased at a slower-than-expected rate in February after falling in the previous month, data from the statistical office ISTAT revealed on Thursday.

Industrial output rose 0.1 percent month-on-month in February, reversing a 1.4 percent recovery in January. Economists had forecast production to rebound by 0.5 percent.

Production of consumer goods grew 3.5 percent over the month, and that of intermediate goods increased 0.1 percent.

On the other hand, energy goods output contracted by 2.0 percent, and production of consumer goods showed a decline of 0.8 percent.

On a yearly basis, the decline in industrial production softened somewhat to 3.1 percent from 3.7 percent in January.

Unadjusted industrial production recovered 0.4 percent from last year, following a 0.6 percent fall in the previous month. It was the first increase in thirteen months.

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