Financial News: Italy Industrial Output Unexpectedly Falls 1.0%

Italy Industrial Output Unexpectedly Falls 1.0%

(RTTNews) - Italy's industrial production declined for the second straight month in June, defying economists' expectations for a slight rebound, the statistical office ISTAT said Thursday.

Industrial output registered a monthly decrease of 1.0 percent in June, faster than the 0.3 percent fall in May. Meanwhile, production was expected to rise by 0.1 percent.

There was a monthly contraction of 2.1 percent in capital goods output and a 0.9 percent decline in intermediate goods production. The consumer goods division produced 0.7 percent less, while energy production continued to grow by 0.8 percent.

On a yearly basis, calendar-adjusted industrial output shrank 0.6 percent, reversing a 1.2 percent increase in June. Further, this was the first fall in five months.

Unadjusted industrial output rebounded 2.4 percent in June, after a 1.8 percent drop in the prior month.

During the first half of the year, total industrial production grew an adjusted 0.5 percent compared to the same period last year, with a particularly strong increase in the manufacture of transportation equipment.

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