Forexpros – Industrial production in Italy rose unexpectedly in November, rebounding after two consecutive months of declines, official data showed on Thursday.
In a report, Istat, Italy’s federal statistical office said industrial production rose by a seasonally adjusted 0.3% in November, confounding expectations for a modest 0.1% decline.
Industrial production fell by an unrevised 0.9% in October.
Italian industrial production dropped at an annualized rate of 4.1% in November, worse than expectations for 2.9% decline, after falling at a revised rate of 4.1% in October.
Following the release of the data, the euro remained fractionally higher against the U.S. dollar, with EUR/USD easing up 0.03% to trade at 1.2712.
Meanwhile, European stock markets were broadly higher. Italy’s FTSE MIB rallied 1.2%, the EURO STOXX 50 rose 0.35%, France’s CAC 40 added 0.2%, while Germany’s DAX gained 0.1%.
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