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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ITALY DATA
Italian March industrial production printed notably below consensus at -0.5% M/M SA (vs 0.3% cons, a downwardly revised 0.0% prior). On an WDA annual basis, IP was -3.5% Y/Y (vs a downwardly revised -3.3% prior).
- The weakness remains consistent with survey evidence. The manufacturing PMI has been contractionary for 12 of the last 13 months (save for a 50.4 reading in March ’24) while the EC and ISTAT industrial confidence readings also remain below neutral with little indication of recovering conditions.
- Recent trends in IP suggest that industry was not a major contributor to the stronger-than-expected flash Q1 GDP estimate of 0.3% Q/Q.
- On a 3m/3m SA basis, IP was -1.3% in March (vs -0.7% prior), the 7th consecutive negative reading.
- All major sub-components were negative on an annual basis in March, with both durable and non-durable goods IP falling 9.5% Y/Y each. Overall consumer goods production was -4.6% (vs -5.3% prior).
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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