Italian industrial output fell 0.2% in October from the month before, a fraction less than expected, data showed on Thursday.

A Reuters survey of 13 analysts had pointed to a monthly fall of 0.3%.

September's data was revised up to show a 0.1% rise, against an originally reported 0.0%, national statistics bureau ISTAT said.

On a work-day adjusted year-on-year basis, output fell 1.1% in October from an unrevised -2.0% the month before.

In the three months to October, industrial output in the euro zone's third largest economy was down 0.2% compared with the May-to July period.

October saw a month-on-month rise for the output of energy products and consumer goods, ISTAT said, while investment goods and intermediate goods both declined.

The largest sectoral increases were seen in pharmaceuticals (+10.4%), transport equipment (+8.9%) and computers and electronics (+6.6%). By contrast, the steepest declines were registered in the wood, paper and printing industry (-11.8%), textiles, clothing, leather and accessories (-11.3%) and rubber and plastic products (-6.9%).

Italian gross domestic product (GDP) stagnated in the third quarter compared with the previous three months, according to ISTAT's flash estimate last month, after contracting by 0.4% in the second quarter.

The government in September trimmed its forecast for GDP growth this year to 0.8% from a previous 1% forecast made in April, and cut the outlook for 2024 to 1.2% from 1.5%.

A closely watched PMI survey released last week said Italy's manufacturing sector contracted in November for an eighth consecutive month, amid persistent declines in output and new orders, suggesting there was no end in sight to the industrial downturn.


ISTAT gave the following details.

INDUSTRIAL PRODUCTION OCT SEPT AUG Mth/mth pct change (adjusted) -0.2 0.1r 0.2r Yr/yr pct change (adjusted) -1.1 -2.0 -4.2 Yr/yr pct change (unadjusted) 2.0 -5.0 -4.1 NOTE: BASE 2015=100. (r) indicates revised figures. ISTAT provided the following breakdown by broad product group in October: adjusted month-on-month percent change. Consumer goods 0.4 Investment goods -0.5 Intermediate goods -0.4 Energy goods 1.5