ITALIAN JANUARY INDUSTRIAL OUTPUT FALLS 3.4 PCT

  Italian industrial production fell 3.4 pct
  in January, compared with the same month last year, the
  national statistics institute Istat said.
      The rise follows a year-on-year increase in December 1986
  of 4.5 pct.
      Istat's industrial production index, base 1980, not
  seasonally adjusted, registered 93.3, compared with 96.6 in
  January 1986.
      Istat said there were 20 working days in January, the same
  as December, but one fewer than January last year.
      Istat said the year-on-year fall reflected poorer
  performances in the footwear, clothing, textiles, chemicals and
  metals industries.
      It said office machinery and data sectors, wood and
  furniture, precision mechanics, oil and electricity showed
  improved activity.
      Calculations based on Istat figures showed industrial
  production rose 2.4 pct in January, on a month-on-month basis,
  after falling 12.0 pct in December over November.
  

