ROME (Reuters) – Italian industrial output was weaker than expected in February, edging up 0.1% from the month before after a 1.4% drop in January, data showed on Thursday.
A Reuters survey of 20 analysts had pointed to a 0.5% monthly rebound in February.
January’s data was revised to show a steeper decline than the originally reported -1.2%.
On a work-day adjusted year-on-year basis, industrial output in the euro zone’s third largest economy was down 3.1% in February, the 13th consecutive decline, national statistics bureau ISTAT said.
In the three months to February it was down 0.7% compared with the September-to-November period.
February saw a strong 3.5% month-on-month rise in output of investment goods, while consumer goods’ output fell 0.8% and energy products were down 2.0%.
Italian gross domestic product rose a quarterly 0.2% in both the fourth quarter and the third quarter of last year, yielding full-year 2023 growth of 0.9%.
Recent leading indicators have mostly pointed to a broadly stable growth rate or a modest acceleration in the first half of this year.
(Reporting by Valentina Consiglio and Antonella Cinelli, writing by Gavin Jones, graphic by Stefano Bernabei)
