Italian Industrial Production Falls For First Time In 6 Months
Italy’s industrial production declined for the first time in six months in May, data published by the statistical office Istat showed on Friday.
Industrial output dropped unexpectedly 1.5 percent on a monthly basis in May, reversing a 1.5 percent rise in April. This was the first decrease since November 2020. Economists had forecast a monthly growth of 0.3 percent.
All sectors showed negative variations in May. Energy output was down 5.2 percent and capital goods production decreased 1.8 percent. Consumer and intermediate goods output fell 0.8 percent, each.
On a yearly basis, industrial production growth eased to 21.1 percent from 79.0 percent in the previous month. This was also slower than the economists’ forecast of 24.7 percent.