Financial News: Italy Industrial Output Unexpectedly Falls 0.5%

Italy Industrial Output Unexpectedly Falls 0.5%

05/10/2024 - 04:50:00 (RTTNews)

(RTTNews) - Italy's industrial production decreased unexpectedly in March, largely due to lower energy goods output, data from the statistical office ISTAT revealed on Friday.

Industrial output rose 0.5 percent month-on-month in March after remaining flat in the prior month. Meanwhile, economists had forecast production to increase by 0.3 percent.

Production of capital goods declined 3.8 percent over the month, and that of consumer goods decreased 0.6 percent. On the other hand, energy goods output advanced by 1.7 percent.

On a yearly basis, the decline in industrial production deepened somewhat to 3.5 percent from 3.3 percent in February. The annual fall recorded in March affects all major industry groups.

Unadjusted industrial production plunged 10.6 percent from last year, reversing a 0.3 percent recovery in the previous month.

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