Italian industrial production falls further in January

The Italian industrial production output shrank in the month of January. According to Istat, the seasonally adjusted industrial production index dropped 2.7 percent sequentially. Consensus expectations were for the industrial output to have dropped 0.4 percent. The change of the average of the last three months with respect to the prior three months was -1.4 percent.

On a year-on-year basis, the industrial production index fell 4.3 percent. In December, the year-on-year output had dropped 0.8 percent. Consensus expectations were for the industrial output to have dropped 0.8 percent in January.

The unadjusted industrial production index fell 1.3 percent compared with December 2018.