Italy’s commercial production reduced at the fastest pace in four months in November and the fall was worse than expected, initial data from the statistical office ISTAT revealed on Friday.
Commercial production fell a seasonally changed 1.6 percent in November, after a 0.1 percent drop in October. Economists had actually expected a 0.3 percent decrease.
The most recent decrease was the most significant because July, when production fell 1.8 percent.
Production of intermediate goods dropped 2.4 percent, capital products output fell 1.7 percent and manufacture of consumer goods decreased 0.9 percent.
In contrast, energy sector output grew 1.0 percent.
On a year-on-year basis, commercial production decreased a calendar changed 2.6 percent in November following a 4.2 percent climb in October. Economists had forecast a 0.4 percent increase.
The material has been provided by InstaForex Company – www.instaforex.com