Italy: Industrial production higher than expected in April

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Italian industrial production was much stronger than expected in April, showing an increase of 1.6% compared to the previous month after an increase of 0.2% in March and strengthening the growth prospects for the second quarter.

Estimates showed a drop of 1.1% in April.

The data marks the third consecutive monthly decline in industrial production, with the March data revised upwards from the initial measurement for zero change.

On an adjusted basis, industrial production in the eurozone’s third-largest economy was 4.2% higher in April, up from 3.2% in March, according to the Istat statistics service.

In the period February-April the percentage had reached 2% in relation to the quarter until January.

The Italian economy grew by 0.1% in the first quarter of the previous three months, Istat said last month, mainly due to coronavirus restrictions at the beginning of the year but also uncertainty and high commodity prices associated with war in Ukraine.

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Source: Capital

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