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Financial News: Italy Industrial Production Growth Exceeds Expectation

Italy Industrial Production Growth Exceeds Expectation

01/13/2022 - 08:31:00 (RTTNews)

(RTTNews) - Italy's industrial production growth accelerated more than expected in November, the statistical office Istat said on Thursday.

Industrial production grew by calendar adjusted 6.3 percent on a yearly basis in November, much faster than the 1.9 percent increase in October and the economists' forecast of +3.7 percent. The production growth on unadjusted terms also came in at 6.3 percent, reversing a 1.2 percent fall in October.

Month-on-month, industrial production expanded 1.9 percent, in contrast to the 0.5 percent decrease seen in October. Output was expected to climb just 0.5 percent.

Among main industrial grouping, energy logged the biggest annual growth of 12.4 percent, followed by a 9.4 percent rise in consumer goods output. Production of intermediate goods was up 4.3 percent and capital goods output rose 3.8 percent.

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