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Italy Industrial Production Falls Unexpectedly In December

Italy's industrial production decreased for the second straight month in December, defying economists' expectations for an increase, figures from the statistical office Istat showed Wednesday.

Industrial production fell a seasonally adjusted 0.7 percent month-over-month in December, faster than the 0.5 percent drop in November. Meanwhile, it was expected to climb by 0.3 percent.

On an annual basis, industrial production declined 1.0 percent at the end of the year, confounding economists' forecast for a 1.4 percent gain. It was the first decrease in six months.

Production in the capital goods sector dipped 1.6 percent yearly in December and that for intermediate goods sector slid by 2.6 percent. At the same time, energy output registered a growth of 0.4 percent.

In the whole year 2015, overall industrial production expanded 1.0 percent compared with the preceding year.

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