Industrial production in Italy and France down in Jan
The country’s industrial output also fell annually by 0.5% in the same month, after it increased by 6.8% in December. The annual decline in industrial production stood quite below the expectations of a rise of 2.6% in January and was the first year-on-year drop since July 2016.
Similarly, France’s industrial production was down more than expected by 0.3% in January, the data from Insee showed. The fall was slower than the decrease of 1.1% in December but still missed the estimates of an increase of 0.5%.
The unexpected fall in the country’s industrial output was mainly driven by the decrease in manufacturing by 1%, defying the estimates of a rise of 0.5%, and the contraction in construction sector by 3.4% after a rise of 1% in December.
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