Italy industry output dips in October, but slightly less than expected

Italian industrial output fell 0.2% in October, slightly better than expected. On a year-on-year basis, output declined 1.1% in October. The three months to October showed a 0.2% decrease in industrial output compared to the May-to-July period. The largest sectoral increases were seen in pharmaceuticals, transport equipment, and computers and electronics. The steepest declines were registered in the wood, paper and printing industry, textiles, clothing, leather and accessories, and rubber and plastic products. Italian GDP stagnated in Q3 after contracting in Q2.