Italy Industrial Production Rises More Than Forecast

italy-industrial-production-rises-more-than-forecast

By RTTNews Staff Writer   ✉   | Published:

Italy’s industrial production expanded more-than-expected in July, after falling in the previous two months, the statistical office Istat said on Monday.

Industrial production rose a seasonally-adjusted 0.4 percent month-on-month in July, reversing a 2.0 percent fall in June. That was just above the 0.3 percent increase expected by economists.

The recovery in July was driven by a 2.0 percent rise in capital sector output.

Meanwhile, production dropped by 0.7 percent in the consumer goods sector from last month, and output produced in the intermediate goods segment dropped 0.6 percent.

Production in the energy goods sector also had a negative contribution of 0.5 percent.

On a yearly basis, industrial production fell a calendar-adjusted 1.4 percent in July, after a 1.1 percent decrease in the previous month. The expected fall was only 0.4 percent.

Data also showed that unadjusted industrial production declined 4.3 percent annually in July, faster than the 1.1 percent fall a month ago.

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