ROME- Italian industrial output was weaker than expected in February, edging up 0.1 percent from the month before after a 1.4 percent drop in January, data showed on Thursday.
A Reuters survey of 20 analysts had pointed to a 0.5 percent monthly rebound in February.
January’s data was revised to show a steeper decline than the originally reported -1.2 percent .
On a work-day adjusted year-on-year basis, industrial output in the euro zone’s third largest economy was down 3.1 percent in February, the 13th consecutive decline, national statistics bureau ISTAT said.
In the three months to February it was down 0.7 percent compared with the September-to-November period.
February saw a strong 3.5 percent month-on-month rise in output of investment goods, while consumer goods’ output fell 0.8 percent and energy products were down 2.0 percent .
Italian gross domestic product rose a quarterly 0.2 percent in both the fourth quarter and the third quarter of last year, yielding full-year 2023 growth of 0.9 percent .
Recent leading indicators have mostly pointed to a broadly stable growth rate or a modest acceleration in the first half of this year.
