World Economy

Italy Industrial Output Still Low

Italy Industrial Output Still LowItaly Industrial Output Still Low

Italy’s industrial production rose less than expected in September, posting a gain only in one sector and reversing the previous month’s decline, as the country tentatively emerges from its longest postwar recession, Dow Jones reported. Industrial output in the eurozone’s third-largest economy increased 0.2% on the month in seasonally adjusted terms, national statistics institute Istat said Tuesday. The average forecast of nine economists polled by The Wall Street Journal was for a rise of 0.4%. The gain was only led by a 0.7% monthly climb in intermediate goods output. Consumer goods production fell 1.0%, reflecting a 1.4% slip in the production of non-durable goods, and a 1.5% fall in the production of energy, Istat said. Output of investment goods was flat over the period. Italian industrial production rose 1.7% on the year in September in workday-adjusted terms, Istat said. The economists’ average forecast was for a 1.9% increase. The government of Italian Premier Matteo Renzi expects economic growth of 0.9% this year after three consecutive years of contraction. On Friday, Istat will release preliminary third-quarter GDP.