Financial News: Italy Industrial Production Declines Sharply

Italy Industrial Production Declines Sharply

(RTTNews) - Italy's industrial production contracted sharply in December on widespread declines across sectors except energy, the statistical office ISTAT reported Wednesday. Industrial output registered a monthly fall of 3.1 percent, which was the first drop in three months and much bigger than the expected drop of 0.1 percent. This follows a 0.3 percent rise in November.

All components of production except energy contracted in December. Production of consumer goods and capital goods slid 3.3 percent each. Intermediate goods output eased 3.6 percent. Meanwhile, energy production gained 0.9 percent.

On a yearly basis, the decline in calendar-adjusted industrial production deepened to 7.1 percent from 1.6 percent in November.

On unadjusted terms, industrial output was down 1.2 percent annually in December, following a notable 4.6 percent decrease in November.

Industrial production decreased 1.2 percent sequentially taking the annual fall to 3.9 percent in the fourth quarter.

In 2024, industrial production fell 3.5 percent from a year ago, which was bigger than the 2.0 percent decrease seen in 2023.

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