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Financial News: Italy Industrial Production Decline Worse Than Expected

Italy Industrial Production Decline Worse Than Expected

11/10/2020 - 06:32:00 (RTTNews)

(RTTNews) - Italy's industrial production dropped more than expected in September, figures from the statistical office Istat showed on Tuesday.

Industrial production dropped 5.6 percent month-on-month in September, after a 7.4 percent increase in August. Economists had expected a 2.0 percent fall.

On a yearly basis, industrial output fell 5.1 percent in September, following a 0.3 percent decrease in the preceding month. Economists had forecast an annual decline of 1.7 percent.

Among all sectors, consumer goods production declined 4.8 percent monthly in September and capital goods output decreased 7.1 percent, respectively.

Intermediate and energy output fell by 4.2 percent and 2.1 percent, respectively.

In the third quarter, industrial production grew 28.6 percent quarterly.

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