Italy Industrial Output Posts Solid Gain in March; Iran War Impact Awaited
Italian industrial output rose more than expected in March, providing a benchmark before the Iran war's full impact reaches Europe's manufacturing base, Investing.com reports. Analysts expect a far more mixed reading in April. Auto, machinery and chemicals were among the contributors.
Italian industrial output rose by more than analysts had expected in March, providing a positive data point for Europe's manufacturing base, according to Investing.com. The reading covers a period before the Iran crisis had fully filtered through, giving policymakers a useful benchmark.
Autos, machinery and chemicals were the strongest contributors to the monthly gain, while consumer goods production was broadly flat. Economists nonetheless caution that the April and May figures could be markedly more mixed as higher energy prices and supply-chain disruptions take hold.
The Italian government has highlighted the importance of its industrial investment-support package and is keeping a coordinated EU energy programme on the agenda. Rome is also watching the European Central Bank closely, as policymakers debate the appropriate response to the Iran-driven inflation pulse.
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