Italy: Industrial production rebounds in May
July 10, 2015
In May, industrial output grew a seasonally-adjusted 0.9% over the previous month, contrasting the 0.3% decrease tallied in April. May’s reading significantly overshot market expectations of a 0.3% rise and marked the highest value since June 2014. The result was driven by an increase over the previous month in the electricity, gas, steam and air conditioning supply sector as well as the manufacturing sector. Conversely, mining and quarrying recorded a significant contraction.
On an annual basis, industrial production grew a working-day adjusted 3.0% in May, accelerating from the mild 0.1% increase tallied in April. As a consequence, annual average growth in industrial output inched up from April’s minus 0.8% to minus 0.4% in May.
Author: Eric Denis , Economist