Italian industrial output continues to climb

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IANS | 13 Jan, 2017
Italian industrial production rose for the second month in a row in November and also climbed on the year, paving the way for stronger economic recovery, official figures showed on Thursday.

Industrial output climbed 0.7 percent from October,and jumped 3.2 percent from November 2015, national statistics office Istat said.

The better than-expected data compares with a 0.2 percent monthly gain forecasted by the median estimate in a Bloomberg survey of 20 analysts. Production made a 0.1 percent gain in October.

November's monthly growth was driven by a 2.4 percent surge in energy and a 1.1 percent rise in intermediate goods, while consumer goods production declined 0.9 percent, according to Istat.

The Italian data gelled with an unexpected spurt in industrial output across the 19-member eurozone in December: 1.5 percent on the month and 3.2 percent year-on-year, official figures showed.

Euro zone consumer confidence also reached a 20-month high in December and has been rising for four consecutive months, according to European Commission estimates.