ROME: Italian industrial production fell in January, after rising for two straight months, as manufacturing struggled to pick up amid the country’s worst postwar recession.
Industrial output in the eurozone’s third-largest economy slipped 0.7% on the month in seasonally-adjusted terms, national statistics institute Istat said Tuesday.
The rise was led by a 1.8% decrease in investment goods and a 0.2% fall in intermediate goods, Istat said. Energy output rose 0.5% and consumer goods added 0.1%. With the exception of vehicles rising, the other manufacturing sectors show a performance which has continuous ups and downs,” said an Istat official. “The days when the vehicles sector pulled all the others are over.”
Italian industrial production fell 2.2% on the year in January in workday-adjusted terms, Istat said. A Dow Jones Newswires survey had predicted a gain of 0.2% for both the month and the year.
The Italian government expects the Italian economy to come out of recession this year.
