Italian industrial production rebounded slightly on a sequential basis in October. The seasonally adjusted industrial production index rose 0.1 percent, as compared with consensus expectations of a fall of 0.3 percent. In the prior month, the industrial production had dropped 0.1 percent. The percentage change of the average of the last three months with respect to the earlier three months was 0.8 percent.
On a year-on-year basis, industrial production rose 1 percent, a slightly slowdown from 1.4 percent year-on-year growth seen in the prior month. In the January to October period, the industrial production rose 1.7 percent year-on-year.
The unadjusted industrial production index rose 4.2 percent year-on-year in October.
At 14:00 GMT the FxWirePro's Hourly Strength Index of Euro was bullish at 78.2564, while the FxWirePro's Hourly Strength Index of US Dollar was slightly bullish at 72.8709. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
Commentary
Italian industrial production rises sequentially in October
Italian industrial production rebounded slightly on a sequential basis in October. The seasonally adjusted industrial production index rose 0.1 percent, as compared with consensus expectations of a fall of 0.3 percent. I…
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