Italy Industry June 2016


Italy: Industrial production falls further in June

August 5, 2016

In June, industrial output fell 0.4% over the previous month, declining at a slower rate than May’s 0.6% decrease but contrasting market expectations of a 0.3% rise. The softer contraction was due to a weaker decline in the manufacturing sector, while both the energy and the mining and quarrying sectors dropped at a faster pace than in the previous month.

On an annual basis, industrial production fell a working-day adjusted 1.0% in June, which marked a deterioration compared to the 0.6% decline tallied in May and the lowest reading since January 2015. Annual average growth in industrial output decreased from May’s 1.3% to a six-month low of 1.2% in June.

FocusEconomics Consensus Forecast panelists see industrial production growing 1.5% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect industrial output to expand 1.5%.

Author: Massimo Bassetti, Economist

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