Italy: Industrial output stable in October
Latest reading: Industrial production was flat month-on-month in seasonally adjusted terms in October (September: -0.3% mom s.a.), surprising markets on the downside. Looking at the details of the release, a recovery in energy supply broadly offset contractions in manufacturing and mining sector output.
On an annual basis, industrial output declined 3.6% in October, moderating from September’s 3.8% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.1%, a deterioration from September’s minus 2.9% reading.