Italy’s industrial production unexpectedly rose in April compared with the previous month, data showed on Tuesday, and increased on an annual basis for the first time in 26 months of decline, signalling a recovery in the long-suffering manufacturing sector.
Industrial production in the eurozone’s third-largest economy rose 1.0% in April compared with March, the national statistics institute ISTAT said, while 16 analysts polled by Reuters had forecast a 0.2% decline.
On an annualised basis, taking into account working days, industrial production rose by 0.3% against a forecast decline of 1.4%. Monthly growth in April spread to all industrial sectors except energy, ISTAT said.
A sign of gradual stabilisation was that in the three months to April, production rose 0.4% compared with November-January.The statistics bureau said last week that Italy’s economy would grow by 0.6% this year amid growing uncertainty over the impact of US President Donald Trump’s tariff policies, lowering its previous growth forecast of 0.8% made in December.
Nevertheless, Tuesday’s figures signal a solid start to the second quarter after ISTAT revised its gross domestic product data for the first three months upwards last month, setting a better foundation for the year as a whole.
