Financial News: Italy Industrial Production Falls 0.9%, Exceeds Forecast

Italy Industrial Production Falls 0.9%, Exceeds Forecast

09/10/2024 - 04:48:00 (RTTNews)

(RTTNews) - Italy's industrial production declined more-than-expected in July after rising in the previous two months, data from the statistical office ISTAT revealed on Tuesday.

Industrial output fell 0.9 percent month-on-month in July, reversing a 0.5 percent stable rise in June. Economists had forecast production to drop 0.2 percent.

Production of consumer goods slid 2.3 percent over the month, and that of capital goods decreased 1.2 percent.

Output produced in the intermediate goods segment was 0.7 percent lower. On the other hand, energy production grew 2.3 percent.

On a yearly basis, the decline in industrial production deepened to 3.3 percent from 2.6 percent in June.

Unadjusted industrial production recovered 2.8 percent from last year, following a 5.6 percent sharp contraction in the previous month.

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