Italy’s industrial output expands in December at fastest rate in four months

Italy’s industrial output grew at the most rapid rate in four months in December, according to the figures shown by the official statistical office Istat. The seasonally adjusted industrial output of Italy grew 1.4 percent on a month-on-month basis in December, as compared with November’s growth of 0.7 percent and consensus expectations of zero percent growth. The 1.4 percent sequential growth is the fastest since August when output expanded 1.9 percent.

Intermediate goods output grew 2 percent sequentially in December, while consumer goods production rose 1.5 percent. Similarly, capital goods production rose 1.2 percent, while energy output rose just 0.7 percent. The percentage change of the average of the last three months with respect to the earlier three months was 1.3 percent, noted Istat.

Meanwhile, on a year-on-year basis, the Italian industrial production grew 6.6 percent in December. This is in comparison with 3.2 percent year-on-year rise in November and consensus expectations of a growth of 3.3 percent. For 2016 as a whole, the industrial production rose 1.6 percent as compared with the 1.1 percent rise in 2015. On a seasonally unadjusted basis, industrial output index was up 3.4 percent, as compared with December 2015.