Italian industrial production fell 0.8% in February, far worse than the 0.5% that was expected.
That’s ugly, but it’s probably going to get a lot worse, as Chris Williamson from Markit notes by comparing industrial production to Italy’s manufacturing PMI, which has already turned down since then.
Italian industrial production -0.8% m/m Feb, -3.9% y/y. Downturn has eased in Q1 since Q4 but worse to come again. twitpic.com/cib0fw
— Chris Williamson (@WilliamsonChris) April 10, 2013