Financial News: Italy Industrial Output Unexpectedly Falls 1.0%

Italy Industrial Output Unexpectedly Falls 1.0%

06/10/2024 - 05:12:00 (RTTNews)

(RTTNews) - Italy's industrial production decreased unexpectedly for the second straight month in April, data from the statistical office ISTAT revealed on Monday.

Industrial output fell 1.0 percent month-on-month in April, after a 0.5 percent drop in March. Meanwhile, economists had forecast production to increase by 0.3 percent.

Production of energy goods declined 2.1 percent over the month, and that of intermediate goods decreased 1.2 percent.

Data showed that capital goods output showed a slight fall of 0.1 percent, while consumer goods production remained stable.

On a yearly basis, the decline in industrial production eased somewhat to 2.9 percent from 3.2 percent in March. The decline was driven by all subsectors, especially in the energy and consumer goods areas.

Unadjusted industrial production rebounded 4.7 percent from last year, following a 10.3 percent plunge in the previous month.

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