Italy: Industrial production falls in May
July 11, 2016
In May, industrial output fell 0.6% over the previous month, swinging from April’s 0.4% growth. May’s reading contrasted market expectations of a 0.1% rise. The contraction was due to the decline recorded in the manufacturing sector, while production in the energy and the mining and quarrying sectors dropped at a softer pace than in the previous month.
On an annual basis, industrial production fell a working-day adjusted 0.6% in May, which strongly contrasted the 1.8% increase tallied in April and marked the lowest reading in five months. Annual average growth in industrial output decreased from April’s 1.6% to 1.3% in May, also marking a five-month low.