Italy’s December industrial output likely rebounded

Italy's industrial production is expected to have recovered in December, growing 1% m/m, mainly due to a surge in exports in the reference period when the output grew 5.7% m/m in November. On an annual basis, the industrial output is likely to have growth 6.9% y/y, partially due to a strike-induced weakness in December 2014 and increased number of working days. Industrial production is one of the best factors to track GDP growth.