Investing.com -- The industrial output in Italy, the third-largest economy in the euro zone, saw an unexpected rise in April, according to data released on Tuesday.
The national institute ISTAT reported a 1.0% increase from March, contradicting a forecast of a 0.2% drop predicted by a group of 16 analysts.
This is the first increase after 26 consecutive declines, indicating a potential recovery for the country’s long-struggling manufacturing sector.
Furthermore, on a work day-adjusted year-on-year basis, industrial output was up by 0.3%, defying a forecast for a 1.4% decline.
This unexpected increase extended across all industrial sectors, with energy being the only exception, as per ISTAT’s report.
This data suggests a potential turnaround for Italy’s manufacturing sector, after a prolonged period of struggle.
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