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Italy’s Industry Output Unexpectedly Rises Amid Growth Optimism

  • GDP data for the fourth quarter will be released next week
  • Business confidence in January highest in more than a year

Italian industrial production unexpectedly rose in December, supporting company executives’ renewed optimism for the growth outlook in the euro region’s third-biggest economy.

Output increased 1.4 percent from November, when it rose a revised 0.8 percent on a monthly basis, statistics agency Istat said Friday in Rome. The median estimate in a Bloomberg survey of 22 analysts called for a 0.1 percent drop. On an annual, work-day adjusted basis, industrial output was up 6.6 percent in December.