Italy’s industrial production unexpectedly falls 0.7% in Dec
The decline in industrial production stemmed from a 1.8% monthly decline in intermediate goods while investment goods output and energy production slipped 1.3% and 0.8%, respectively from a month earlier. However, production of consumer goods rose 0.8% with durable goods increasing 2.2% and non-durable goods rising by 0.5%.
Earlier this month, the European Commission cut its growth expectations for the Italian economy to 1.4% for this year from their earlier estimate of 1.5%.
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