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Italy’s industrial production declined more than expected in January, figures from the statistical office Istat showed Monday.

Industrial output fell 2.3 percent month-on-month in January, reversing a 1.4 percent rise in December. This was the first decline in four months. Output was forecast to decrease 0.7 percent.

On a yearly basis, industrial production dropped unexpectedly by 0.5 percent, which was the first drop since July 2016. Output had advanced 6.8 percent in December. Economists had forecast output to grow 2.6 percent in January.

On an unadjusted basis, industrial output growth accelerated to 5.7 percent annually in January from 3.5 percent in the prior month.

The material has been provided by InstaForex Company – www.instaforex.com

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