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.