Italian industrial output fell more than expected
The drop at the start of the year came after an unexpectedly strong 1.4 percent rise in December.
Italian output shows a close correlation with gross domestic product, which rose 0.9 percent in 2016 and is predicted to grow by a similar amount this year, according to a Bank of Italy forecast.
In January, industrial output was weak across the board, with production of consumer goods, intermediate items and investment goods all declining from the month before.
On a work-day adjusted year-on-year basis, output in January fell 0.5 percent, compared with an upwardly revised 6.8 percent rise in December from a previously reported 6.6 percent increase. ■