Italy: Industrial production shrinks more than expected in October
Latest reading: Industrial production declined 1.0% in seasonally adjusted month-on-month terms in October, following 2.7% growth in the previous month. Q3’s reading was worse than markets had expected.
Relative to the prior month’s figures, readings in October worsened for manufacturing (-1.2% in seasonally adjusted month-on-month terms vs +1.4% in September), mining and quarrying (-0.2% vs +12.1% in September) and electricity, gas, steam and air conditioning (+0.7% vs +4.7% in September).
On a year-on-year basis, industrial production was down 0.3% in October, following a 1.2% rise in the prior month.