Italian industrial output was much weaker than expected in November, falling 1.5% from the month before following a 0.2% decline in October and boding ill for economic growth in the fourth quarter, data showed on Thursday.

A Reuters survey of 10 analysts had pointed to a 0.2% decline in November.

On a work-day adjusted year-on-year basis, industrial output in the euro zone's third largest economy was down 3.1% in November, national statistics bureau ISTAT reported, the 10th consecutive annual decline.

In the three months to November, industry output was down 0.8% compared with the June-to-August period, ISTAT said.

Italian gross domestic product edged up 0.1% in the third quarter compared with the previous three months, following a 0.4% contraction between April and June.

ISTAT said on Nov. 10 that the economy would remain weak in the near term.

Thursday's industrial output data showed broad-based weakness, with month-on-month declines for production of consumer goods, investment goods, intermediate goods and energy products.


ISTAT gave the following details.

INDUSTRIAL PRODUCTION NOV OCT SEPT Mth/mth pct change (adjusted) -1.5 -0.2 0.0r Yr/yr pct change (adjusted) -3.1 -1.1 -2.0 Yr/yr pct change (unadjusted) -3.0 2.0 -5.0 NOTE: BASE 2015=100.

(r = revision)


ISTAT provided the following breakdown by broad product group in November: adjusted month-on-month percent change. Consumer goods -1.8 Investment goods -0.2 Intermediate goods -1.8 Energy goods -4.0