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Italy’s industrial production contracts in June

by ChemOrbis Editorial Team -
  • 05/08/2015 (15:16)
According to data from Italy’s statistics office Istat, the country’s industrial production fell 1.1% month over month in June following an increase of 0.9% in May, missing economists’ initial estimates, which called for a relatively smaller drop of 0.2% in a survey conducted by the Wall Street Journal. On a yearly basis, meanwhile, Italy’s industrial output posted a calendar adjusted decrease of 0.3% in June.

The decrease was seen as a sign of the fragility of the Italian economy as the country struggles to recover from its worst recession during the postwar period. The data revealed that intermediate goods output fell 1.7% on the month in June while production in the energy sector dropped 1.0%. Meanwhile, production of consumer goods slipped 0.8% in June.
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