Italian Industrial Production Fell Slightly in March
May 11 2021 - 4:57AM
Dow Jones News
By Xavier Fontdegloria
Italy's industrial production fell in March following three
months of increases, according to data released Tuesday by the
country's statistics office, Istat.
The industrial production index decreased by a marginal 0.1% in
March in seasonally-adjusted terms from the prior month, compared
with a downwardly revised 0.1% monthly increase in February. The
reading misses a consensus forecast from economists polled by
FactSet of a 0.3% rise.
On an annual basis, Italy's industrial production surged by
37.7% in March in calendar-adjusted terms due to the comparison
with exceptionally low readings in March 2020, when the pandemic
first hit the country and the economy was brought to a near
halt.
In March, industrial production remained 1.2% below than the
pre-pandemic level registered in February 2020, Istat said.
Italy's economy, the third largest in the eurozone, entered a
technical recession in the first quarter with a 0.4% gross domestic
product drop, as lingering restrictions to control the coronavirus
pandemic took a toll on the economy.
Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com
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(END) Dow Jones Newswires
May 11, 2021 04:42 ET (08:42 GMT)
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