ROME (dpa-AFX) - Italy's industrial production declined the most since late 2020, the statistical office Istat reported Wednesday.
Industrial output fell 3.4 percent month-on-month, but bigger than December's 1.1 percent decrease. This was the biggest fall since September 2020, when output was down 4.8 percent.
All major sectors declined from the previous month. Energy production shrank 5.2 percent and consumer goods by 3.6 percent. Production of intermediate goods and capital goods fell 3.4 percent and 1.6 percent, respectively.
On a yearly basis, industrial output decreased by calendar adjusted 2.6 percent, in contrast to the 4.8 percent increase in December. Production dropped for the first time since February 2021.
The unadjusted industrial production growth slowed sharply to 0.4 percent from 8.1 percent a month ago.
In its monthly report, released Wednesday, the statistical office said an estimation of the impact of the international crisis is extremely complex.
A counterfactual analysis of the Italian economy shows that the actual level of oil prices might subtract 0.7 percentage points to GDP growth in 2022.
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