Italy: Industrial production contracts for a second consecutive month in June
August 5, 2011
In June, industrial output contracted a seasonally adjusted 0.6% over the previous month. The reading matched the result recorded in May but contrasted market analyst expectations that had industrial output expanding 0.2% in June. Compared to the same month last year, industrial output rose 0.2% on a working-day adjusted basis, which was down from May's 2.0% year-on-year increase and marked the lowest outturn since January this year. As a consequence of the slowdown, the trend moderated, with annual average growth in industrial production stepping down from 4.8% in May to 4.0% in June, the lowest reading since October 2010.
Author: Armando Ciccarelli, Head of Data Solutions