MNI: ITALY DATA: Industrial Production (Mar 2019)....>

MNI: ITALY DATA: Industrial Production (Mar 2019) Preview - 09:00 BST

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- Bloomberg Consensus: -0.8% m/m, -0.8% y/y; Previous (Feb): 0.8% m/m, 0.9% y/y

- After four consecutive m/m declines, IP rebounded in Jan (+1.9%) & Feb (+0.8%)

- Consumer goods output expanded by a robust 3.2% m/m in Feb, while production

of investment (+1.1%) & intermediate (+0.2%) goods also increased

- While markets look for a Mar contraction, IP likely registered a quarterly

rebound in Q1 after having slumped in Q4

- Indeed, having subtracted from GDP growth in each qrtr of 2018, the industrial

sector looks to have helped Italy exit recession at the start of the year 

- Nevertheless, the industrial sector outlook remains fairly subdued... 

- ... Italy's manufacturing PMI survey recorded a ninth consecutive decline in

output and new orders in Apr

- Even if global growth picks up more strongly in the coming quarters, domestic

demand has been - and looks likely to remain - a persistent problem for Italy's

manufacturers