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Financial News: Italy Industrial Production Recovers 0.5%

Italy Industrial Production Recovers 0.5%

07/10/2024 - 05:07:00 (RTTNews)

(RTTNews) - Italy's industrial production expanded for the first time in five months in May, and at a faster than expected pace, data from the statistical office ISTAT revealed on Wednesday.

Industrial output rose 0.5 percent month-on-month in May, reversing a 1.0 percent drop in April. Economists had forecast production to increase only by 0.1 percent.

Data showed that energy goods output grew the most by 3.0 percent over the month. There was 0.7 percent growth seen in both the consumer and intermediate goods sectors. Meanwhile, capital goods output was 1.0 percent lower.

On a yearly basis, the decline in industrial production deepened somewhat to 3.3 percent from 3.0 percent in April. The decline was driven by all subsectors except energy.

Unadjusted industrial production fell 3.3 percent from last year, following a 4.6 percent rebound in the previous month.

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