Italy: Industrial production contracts in August
October 9, 2015
In August, industrial output fell a seasonally-adjusted 0.5% over the previous month, contrasting the 1.1% increase tallied in July. August’s reading undershot market expectations of a 0.3% fall. The result was driven by significant declines in electricity, gas, steam and air conditioning as well as manufacturing. Conversely, the mining and quarrying sector improved.
On an annual basis, industrial production expanded a working-day adjusted 1.0% in August, which was below the 2.8% increase tallied in July. Annual average growth in industrial output inched up from July’s minus 0.2% to zero growth August.
Author: Eric Denis , Economist