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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.
ITALY DATA
MNI (London)
ITALY DEC SA IND OUTPUT +1.6% M/M (FCST +0.2%); NOV -0.1%r M/M
ITALY DEC IND OUTPUT +0.1% Y/Y (FCST -1.7%); 2022 WDA IND OUTPUT +0.5%
- Italian industrial production was robust into year end, up +1.6% m/m and a modest +0.1% y/y in December, outpacing expectations and breaking a three-month streak of contractionary m/m readings.
- Total Q4 industrial output fell by -0.9% in Q4 compared to the previous quarter, implying a drag on Q4 GDP. The Italian economy contracted by -0.1% q/q in the Q4 flash print, largely on weaker agriculture and industrial production, outweighing strong services sector performance.
- Eurozone aggregate industrial production data is due on Wednesday. So far, a sharper contraction was recorded by Germany, which should be largely cancelled out by upside surprises in French, Spanish and today's Italian data.
- Volatile Irish data will this month be a drag on the headline print on Wednesday. Consensus is currently looking for -0.9% m/m and -0.8% y/y, implying an overall weak end to Q4.
Source: ISTAT
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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