Italy’s industrial production decreased unexpectedly in November, after rising in the previous two months, figures from the statistical office Istat showed Thursday.
Industrial production fell a seasonally adjusted 0.5 percent month-over-month in November, confounding economists’ expectations for a 0.2 percent increase. In October, output had risen 0.5 percent.
On a yearly basis, industrial production climbed a calendar-adjusted 0.9 percent in November, but much slower than the 3.0 percent gain in the previous month.
The expected rate of growth was 2.5 percent. It was the fifth consecutive month of rise in a row.
Among sectors, production of capital goods grew 3.6 percent annually in November and those of energy and intermediate goods went up by 2.1 percent and 0.7 percent, respectively.
In the January to November period, total industrial production advanced 1.1 percent compared with the corresponding period last year.
The material has been provided by InstaForex Company – www.instaforex.com