Italy: Industrial production shrinks in May
Latest reading: Industrial production declined 0.3% in seasonally adjusted month-on-month terms in May, following 0.4% growth in the prior month.
Relative to the previous month’s figures, the reading for manufacturing softened in May (-0.4% on a seasonally adjusted month-on-month basis vs +0.3% in April). In contrast, readings improved for mining and quarrying (-0.3% vs -4.5% in April) and electricity, gas, steam and air conditioning (+4.6% vs -0.9% in April).
In annual terms, industrial production rose 1.1% in May, following 1.0% growth in the previous month.