Italian industrial output fell more than forecast by economists in February amid ongoing recession and tight austerity, the latest figures from the statistical office Istat showed Friday.
Production slumped for a sixth consecutive month, falling by 6.8 percent on a working day adjusted year-on-year basis in February. This was steeper than the 4.6 percent decline reported in January and a 5.1 percent drop forecast by economists.
Production decreased significantly in intermediate goods and consumer goods industries, while capital goods saw a relatively smaller decline. On the other hand, energy production grew 3.3 percent. In the manufacturing sector, the largest drop was reported in chemical industry.
On a seasonally adjusted month-on-month basis, production fell 0.7 percent, compared to expectations for a 0.5 percent fall. During the first two months of the year, production dropped 5.7 percent over the same period last year.
The Italian economy slid into recession in the fourth quarter, for the first time since 2009, mainly due to poor demand and investment conditions. The gross domestic product declined 0.7 percent sequentially, faster than the 0.2 percent drop logged in the third quarter.
In 2011, GDP grew just 0.4 percent, following a 1.8 percent expansion in 2010. The European Commission forecasts Italy to shrink 1.3 percent in 2012.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.