Data published by the National Institute of Statistics (ISTAT) showed that industrial production increased by 1.9% in November, offsetting a 0.5% drop in October (revised from -0.6%). Economists had expected an increase by only 0.5%. Meanwhile, over the last three months (through November), the average production growth was 0.6% relative to the previous three-month period (through October).
Production growth relative to October was associated with an increase in all major industry groups: energy (+4.6%), capital goods (+2.0%), consumer goods (+1.7%) and intermediate goods (+0.8%).
ISTAT also reported that, in annual terms, industrial production increased by 6.3% after an increase of 1.9% in October (revised from +2%). Economists had expected an increase by 3.7%. A significant increase was recorded in the energy sector (+12.4%) and consumer goods (+9.4%). More moderate growth was recorded in the intermediate goods sector (+4.3%) and capital goods sector (+3.8%).