Italy June industry output posts modest m/m fall, broadly as expected

Updated 02 Aug, 2019

The 0.2% monthly fall in June reported by national statistics bureau ISTAT compared with a -0.3% median forecast in a Reuters survey of 11 analysts.

May's data was revised up marginally to show a 1.0% month-on-month rise, originally reported at 0.9%.

In the second quarter, output in the euro zone's third largest economy was down 0.7% compared with the previous three months, following a 1.0% rise in the first quarter, national statistics bureau ISTAT reported.

In June, output of consumer goods, investment goods and intermediate goods all fell from the month before, partly offset by a market rise in output of energy products.

On a work-day adjusted year-on-year basis, output in June was down 1.2%, following a 0.6% fall in May. That was marginally revised up from an originally reported -0.7%.

The euro zone's third-largest economy has been broadly stagnant for the last five quarters. Gross domestic product was flat in the second quarter on both a quarter-on-quarter and a year-on-year basis, data showed on Wednesday.

Italian industrial output fell by around a quarter during a steep double dip recession between 2008 and 2013, and has regained only a small part of that during a modest recovery in the subsequent years.

Copyright Reuters, 2019
 

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