Industrial production in Italy unexpectedly increased in January

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Istat, the Italian statistical office, reported an increase in production in Italy by 1.7% in January after a 4-month decline. These data significantly exceeded the estimate of economists, who had expected the index to increase only by 0.1%. In the second half of last year, recession was observed in Italy, and a significant improvement in January data on the output growth may be a precursor to the end of the recession period in the country. For the period from November to January, however, there was a decrease in production by 1.8% compared to August-October. The January production figure in annual terms indicated a decline of 0.8%. Analysts had expected the figure to fall by 3%.

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