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(CEP News) - Industrial production in Italy continued to suffer in February, according to a report from local statistics authorities on Thursday.
Italian industrial production surprised to the downside in February, falling 3.5% on a monthly basis, ISTAT reported on Thursday. Economists had expected a more modest decline of 1.5% after the revised 1.2% fall in January. Prior to revisions, ISTAT had reported a 0.2% decline. Annually, output in the industrial sector fell 20.7% in weighted daily average terms, down from both the 17.5% decline expected and January's revised 17.6% fall. Prior to revisions, ISTAT had reported a 16.7% decline. Seasonality aside, industrial output fell by 23.7%%, worse than the 21.0% tumble expected and the previous month's -22.8% figure, which was revised from -21.9%. By Erik Kevin Franco,
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, edited by Stephen Huebl,
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