Italy: Industrial production accelerates in October

In October, industrial output rose a seasonally-adjusted 0.5% over the previous month, which was above the 0.2% increase tallied in September and marked a three-month high. October’s reading overshot market expectations of a 0.3% increase. The result reflected improvements in all sectors, with manufacturing in particular growing at the fastest rate in five months.

On an annual basis, industrial production expanded a working-day adjusted 2.9% in October, which was above the 1.8% increase tallied in September. Annual average growth in industrial output rose from September’s 0.3% to 0.8% in October.

Met the why particular Consensus Forecast panelists see industrial production growing 1.8% in 2016, which is unchanged from last month’s forecast. For 2017, panelists also expect industrial output to expand 1.8%.