Industrial production in Italy increased in October more than forecast

Statistical Office Istat reported a significant increase in industrial production in in October. According to the ministry, its volume increased by 1.3% against the previous month. A month earlier, the Italian industry saw a decline of 5.1%.

The economists’ forecast assumed the growth of the indicator by only 1%. Seasonal and calendar excluded industrial output fell 2.1% in the past twelve months to October. Consumer goods were produced by 0.7% more than in September. The volume of the means of production produced during the month jumped by 2.6%. The production of intermediate goods increased by 1.3%.

At the same time, energy output showed a 3% reduction. Enterprises producing vehicles in October increased production by 4.4%. Electrical equipment was produced by 3.9% more than in September. Pharmaceutical companies increased output by 3.4%.

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