Italy: Industrial activity remains unchanged in March
Industrial output fell 0.5% month-on-month in seasonally adjusted terms in March (February: 0.0% mom). Looking at the details of the release, manufacturing production fell in March, and mining and quarrying output swung to contraction. Meanwhile, electricity, gas, steam and air conditioning production increased.
On an annual basis, factory output fell 3.3% in March, matching February’s fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.8%, down from February’s minus 2.7% reading.