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Industrial output unexpectedly ticks up in Italy, beats estimates in France

Italy's industrial production index unexpectedly ticked up 0.1% month over month in November 2019 after a 0.3% dip in October 2019, according to the Italian National Institute of Statistics.

The consensus estimate of economists polled by Econoday was for output to hold steady.

After calendar adjustments, industrial output fell 0.6% year over year during the said month and by 1.1% in the first 11 months of 2019.

Seasonally adjusted industrial output dropped 0.7% in the three months to November 2019 from the June-August period of that year.

Separately, France's industrial output rose 0.3% month over month in November 2019 following a revised 0.5% rise in the prior month, data from the National Institute of Statistics and Economic Studies showed.

The Econoday consensus estimate was for a 0.1% monthly uptick.

Manufacturing production dipped 0.1%, following a 0.6% rise. The production of food products and beverages, coke and refined petroleum products, machinery and equipment goods, and transport equipment all increased in November 2019. However, these gains were offset by a decline in output in other manufacturing segments that include textiles, chemical products and pharmaceuticals.