Italy's industrial output dropped a working day adjusted 20.7% year-over-year in February, faster than a 17.6% fall in the previous month, the country's statistical office ISTAT said Thursday. Economists expected production to drop 17.5%.
Manufacturing output fell 21.2% on an annual basis, while mining output declined 25.9%. Production of utilities was down 9.2%.
Month-on-month, industrial output slipped a seasonally adjusted 3.5% in February, following a 1.2% decline in January. Economists expected production to fall 1.5%.
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