Italy industry output stagnates in September amid economic weakness

Italian industrial output was flat in September compared with the month before, national statistics bureau ISTAT reported on Friday, reflecting overall weakness in the euro zone's third largest economy.

The data was nonetheless slightly firmer than expected. A Reuters survey of 17 analysts had pointed to a 0.2 percent monthly decline.

ISTAT also marginally revised up August's figures to show a 0.3 percent month-on-month uptick, originally reported at 0.2 percent.

On a work-day adjusted year-on-year basis, industrial output was down 2.0 percent in September, following an unrevised 4.2 percent decline in August, ISTAT reported.

In the third quarter, it was up 0.2 percent compared with the April-to-June period.

September saw a steep month-on-month fall for output of consumer goods, ISTAT said, offset by more modest rises for investment goods, intermediate goods and energy products.

Italian gross domestic product stagnated in the third quarter compared with the previous three months, a preliminary ISTAT estimate showed last week, following a 0.4 percent contraction in the second quarter.

The government is officially forecasting full-year GDP growth of 0.8 percent this year, slowing sharply compared with last year's rate of 3.7 percent.

ISTAT provided the following breakdown by broad product group in September: adjusted month-on-month percent change. Consumer goods -2.2 Investment goods 1.5 Intermediate goods 0.8 Energy goods 1.1