The FINANCIAL — 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.
Industrial output in the eurozone’s third-largest economy increased 0.2% on the month in seasonally adjusted terms, national statistics institute Istat said on November 10, according to Nasdaq.
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.
In a television interview, Mr. Renzi said he wouldn’t be surprised if gross domestic product reached 1.0% in 2015.
On November 13, Istat will release preliminary third-quarter GDP.
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