Italy: Industrial production recovers some ground in July
September 13, 2016
In July, industrial output increased 0.4% over the previous month, rebounding from June’s revised 0.3% decrease (previously reported: -0.4% month-on-month). The reading marked a six-month high and overshot market expectations of a 0.2% rise. The increase was due to a broad-based expansion in all sectors, with the mining and quarrying sector expanding the most.
On an annual basis, industrial production fell a working-day adjusted 0.3% in July, which marked an improvement on the revised 0.9% decline logged in June (previously reported: -1.0% year-on-year) and was the highest reading since April. The overall trend moderated as annual average growth in industrial output decreased from June’s 1.2% to a nine-month low of 1.0% in July.
Author: Andrea Vetrugno, Economist