Italian industrial production decreased -0.9% MoM in January, mostly in line with expectation, with the 3-month moving average also down -0.7%.

• On a calendar-adjusted basis, industrial production fell -2.7% YoY in February which was well below expectations of a -1.9% YoY decline.
• The unadjusted industrial production index declined -6.4% YoY in February.
• Manufacturing production was down -4.9% YoY, much lower than the -0.9% YoY in January.