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Italy’s industrial output unexpectedly down in January

by ChemOrbis Editorial Team -
  • 10/03/2015 (16:56)
According to data released by Italy’s statistics institute ISTAT, the country’s industrial output unexpectedly fell in January. Industrial output decreased 0.7% on the month in January after increasing 0.4% in December. Economists’ initial estimates called for a 0.2% increase in a survey conducted by Bloomberg. On a yearly basis, the country’s industrial output declined 2.2% when adjusted for working days.

ISTAT had earlier stated that cheaper oil prices and the weaker euro are likely to support companies’ output and exports in the upcoming period and will allow the country to exit from an approximately three-and-half year recession.

According to a report dated February 27 by the statistics institute, the Italian economy will grow 0.1% in the three months ending in March while the European Commission reportedly expects the country’s economy to expand by 0.6% this year and 1.3% in 2016.
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