Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Italian Output Unexpectedly Fell in March as Stimulus Faded

May 10 (Bloomberg) -- Italian industrial production unexpectedly fell in March as output from the transportation industry dropped after the government phased out subsidies for the purchase of new cars.

Output declined 0.1 percent from February, when it stalled, Rome-based statistics office Istat said today. Economists had forecast a 1 percent increase, according to the median of 17 estimates in a Bloomberg survey. Transportation-industry output, which makes up 5.6 percent of the index, declined 8.2 percent from the previous month, Istat said.

Fiat SpA, Italy’s biggest manufacturer, and its suppliers face a setback after the government decided not to renew incentives for car buyers. Auto sales will fall 17 percent to 1.8 million in 2010, research center Promotor said on May 6. Italy last year offered as much as 1,500 euros ($1,900) per car for consumers willing to buy more fuel-efficient models.

Industrial production gained 6.4 percent from a year earlier, Istat said today.

To contact the reporter on this story: Lorenzo Totaro in Rome at ltotaro@bloomberg.net

To contact the editor responsible for this story: John Fraher at jfraher@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.