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Financial News: Italy Industrial Production Falls More Than Forecast

Italy Industrial Production Falls More Than Forecast

08/05/2022 - 08:41:00 (RTTNews)

(RTTNews) - Italy's industrial production declined for the second straight month in June, and at a faster-than-expected pace, the statistical office Istat said on Friday.

Industrial production dropped 2.1 percent month-on-month in June, after a 1.1 percent fall in May. That was well above the 0.2 percent slight fall expected by economists.

Among sectors, the capital goods sector logged the biggest fall in output by 3.3 percent. This was followed by the consumer goods segment by 2.1 percent.

Production of intermediate goods fell 1.3 percent, while that of energy goods showed a positive growth of 1.9 percent.

Year-on-year, growth in industrial output contracted 1.2 percent in June, reversing a 3.4 percent rise in May. This was the first fall in five months.

On an unadjusted basis, industrial production fell the same 1.2 percent annually after rising 6.6 percent in May.

During the second quarter, total industrial production grew 1.2 percent compared to the previous three-month period.

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