(Bloomberg) -- Italy's industrial production may have fallen for a second month in January due to rising energy costs and supply shortages, putting economic growth at “serious risk,” employers lobby Confindustria said.
Industrial output declined by an estimated 1.3% in January from a month earlier, after a 0.7% drop in December, the group said in a statement. Production rose 1.9% in November, contributing to an expansion in gross domestic product in the fourth quarter.
Read more: Draghi Presided Over Strongest Italy Growth in Four Decades
The contraction in January was a result of soaring energy and commodity costs as well as persistent bottlenecks and shortages, the employers association said. Italy this week confirmed a 2022 GDP growth target of more than 4%.
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