France’s and Italy’s factory output unexpectedly down in April
The report also showed that production in the auto sector fell 0.3% while coking and refining output slumped 11% in April from a month earlier.
Meanwhile, according to a report released by Italy’s statistics office, Istat , the country’s industrial output posted a seasonally adjusted decrease of 0.3% on the month, posting the largest decline since January. On a yearly basis, however, Italy’s industrial output edged up 0.1% on workday-adjusted terms. Wall Street Journal economists’ initial estimates called for an increase of 0.2% from a month earlier and a 0.8% gain on the year.
The monthly decrease in the country’s industrial output was attributed to a 1.3% fall in energy and a 1.2% decrease in consumer goods.
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