Italy's Industrial Output Declined 0.6% in January, Missing Expectations

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Investing.com – According to data released by Italy’s National Institute of Statistics (ISTAT) on Friday, Italy’s industrial output in January decreased by 0.6% compared to December.

This decline was unexpected by economists. A survey of 12 analysts by Reuters showed they had previously forecast that the industrial output would grow by 0.3% that month.

ISTAT also revised its December industrial output data, showing a downward correction from the initially reported 0.4% decline to a 0.5% decline.

After adjusting for working days, January’s industrial output fell by 0.6% year-on-year. This contrasts with the analysts’ forecast of a 0.8% increase. December’s output grew by 2.7% year-on-year, revised downward from the initially reported 3.2% increase.

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