Industrial production in Italy was lower than expected in December, falling 1% from the previous month, following a large, upward-revised 2.1% increase in November.
Analysts expected a 0.7% drop in December on a monthly basis. November data were revised upwards from the initial increase of 1.9%.
On an adjusted annual basis, industrial production increased by 4.4% in December, and slowed by an increase of 6.6% in November.
In the quarter to December, production increased by 0.5% compared to the previous quarter, compared to 1.1% in the third quarter.
For the whole of 2021, industrial production increased by 11.8% compared to the previous year, recovering from the 11.4% decline in 2020, when the economy was plagued by the coronavirus.
The Italian economy grew by 6.5% in 2021, after a record contraction of 8.9% in 2020.
For this year, Mario Draghi’s government officially expects GDP growth of 4.7%, but high energy prices and the recent rise in cases have overshadowed the outlook.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
