Financial News: Italy Industrial Output Unexpectedly Grows 0.5%

Italy Industrial Output Unexpectedly Grows 0.5%

08/02/2024 - 05:02:00 (RTTNews)

(RTTNews) - Italy's industrial production expanded for the second straight month in June, data from the statistical office ISTAT revealed on Friday.

Industrial output rose 0.5 percent month-on-month in June, the same as in the previous month. Meanwhile, economists had forecast production to remain flat.

The upward trend in June was driven by a 2.0 percent growth in capital goods production. On the other hand, there was a 1.4 percent fall in the consumer goods sector. Consumer goods production was 0.3 percent lower.

On a yearly basis, the decline in industrial production eased somewhat to 2.6 percent from 3.3 percent in May. The decline was driven by all subsectors except energy.

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