Italy: Industrial output grows at fastest pace since February 2022 in January
Latest reading: Industrial output bounced back 3.2% in month-on-month seasonally adjusted terms in January (December: -2.7% mom s.a.), marking the best reading since February 2022. Looking at the details of the release, the rebound was driven by an improvement in manufacturing output. Meanwhile, mining and quarrying production plus energy supply weakened.
On an annual basis, industrial output contracted 0.8% in January (December: -6.6% yoy), marking the best result since October 2023. Accordingly, the trend improved modestly, with the annual average variation of industrial production coming in at minus 3.7%, up from December’s minus 3.9%.