Italy’s industrial production increased for the second straight month in October at a faster-than-expected pace, figures from the statistical office Istat showed Friday.
Industrial output climbed a seasonally adjusted 0.5 percent month-over-month in October, exceeding economists’ expectations for a 0.3 percent gain. In September, production had risen 0.2 percent.
On a yearly basis, industrial production grew a calendar-adjusted 2.9 percent in October, faster than the 1.8 percent spike in the preceding month.
The expected rate of increase was 2.0 percent. It was the fourth successive monthly rise.
Among sectors, production of capital goods advanced 4.8 percent in October and that for intermediate goods rose by 2.4 percent.
During the first ten months of the year, total industrial output expanded 1.1 percent compared with the corresponding period last year.
The material has been provided by InstaForex Company – www.instaforex.com