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Italy’s factory output falls faster than forecast in August

by ChemOrbis Editorial Team -
  • 09/10/2015 (16:47)
According to data released by Italy’s statistics institute Istat, Italy’s factory output fell at a faster pace than expected in August. The country’s industrial production declined 0.5% on a seasonally adjusted basis; however economists’ forecasts called for a decrease of 0.3% in a survey conducted by Wall Street Journal.

The decrease was led by lower energy production which fell 4.3% from a month earlier. Meanwhile, production for consumer goods decreased 0.7% while durable goods production was down 2.4% in August. The data also revealed that investment goods output remained stable in August while production of intermediate goods slid 0.4%.

On a yearly basis, however, Italy’s industrial output rose 1% in workday-adjusted terms in August, lower than economists’ expectations which called for a gain of 1.4%.

In September, the Italian government raised their economic growth forecasts to 0.9% for 2015 from their previous estimate of 0.7% in April.
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