HomeBusiness/EconomyIndustry Output In Italy Fell For A 2nd Month In Feb, Raising...

Industry Output In Italy Fell For A 2nd Month In Feb, Raising Concerns About The Country’s Economic Recovery

According to figures released on Thursday, Italian industrial output was worse than anticipated in February, declining by 0.2% from the month before after declining by 0.5% in January. This raises concerns about the strength of the anticipated economic recovery.
A 0.5% increase in industrial output was predicted by 19 analysts polled by Reuters.

The country’s statistical agency, ISTAT, updated January’s results from a previously reported 0.7% decline.

The third-largest economy in the euro zone had a decrease in industrial output in February of 2.3% on a work-day adjusted annual basis, according to ISTAT.

Despite the slight month-over-month declines in January and February, the statistics agency said that the output from December to February was up 0.3% when compared to the three months from September to November.

According to ISTAT, the output of consumer, investment, and intermediate goods all decreased in February while energy products experienced a slight increase.

The Italian economy shrank by 0.1% in the final quarter of 2022, but Giancarlo Giorgetti, the minister of the economy, stated last month that things were looking up and that the nation was probably going to avoid a second quarter of recession at the start of this year.

On April 28, ISTAT will publish a flash estimate of the first quarter’s GDP.

ISTAT provided the following information:

PRODUCTION INDUSTRIAL FEB JAN DEC -0.2 -0.5r Mth/Mth pct Change (Adjusted) Adjusted 1.2 Yr/Yr pct change (Unadjusted) -2.3 1.6r -0.9 Yr/Yr pct change -2.2 4.7r -6.7 NOTE: BASE 2015=100. Revisions are indicated by a (r).

In February, ISTAT offered the following breakdown by major product group: adjusted monthly percent variation. -0.7 in consumer goods Capital goods -0.9 goods in the middle -0.3 0. energy goods

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