Italy: Industrial production notably accelerates in June
August 9, 2017
Industrial output grew 1.1% in June on a month-on-month seasonally adjusted basis, following the 0.7% expansion registered in May and beating analysts’ expectations of a much smaller 0.2% expansion. The expansion came on the back of a broad-based expansion in all the three sub-sectors: the manufacturing sub-sector, which was positively influenced by a notable increase in the production of pharmaceutical and oil products; the electricity, gas, steam and air conditioning sub-sector; and the mining and quarrying sub-sector, which grew at the fastest pace in nine months.
On an annual basis, industrial production jumped by a working-day adjusted 5.3% in June, accelerating notably from May’s 2.7% rise. Annual average growth in industrial output also improved, increasing from 2.0% in May to 2.6% in June, the strongest print since October 2011.