Italy Industrial Production Grows More Than Forecast

italy-industrial-production-grows-more-than-forecast

Italy’s industrial production expanded for the second straight month in August, and at a faster-than-expected pace, the statistical office Istat said on Tuesday.

Industrial production rose a seasonally-adjusted 2.3 percent month-on-month in August, faster than the 0.5 percent gain in July. That was also well above the 0.2 percent increase expected by economists.

Production of consumer goods logged the strongest growth of 2.6 percent, and capital goods output was 1.8 percent higher compared to last month.

Output produced in the intermediate goods segment rose 0.8 percent, while production dropped by 2.3 percent in the energy sector.

On a yearly basis, industrial production recovered strongly by a calendar-adjusted 2.9 percent in August, after a 1.3 percent decrease in the previous month.

Data also showed that unadjusted industrial production grew 2.8 percent annually in August versus a 4.3 percent fall in July.

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