Italy Industrial Output Recovers More Than Expected

(RTTNews) - Italy's industrial production expanded for the first time in three months in July, and at a faster-than-expected pace, the statistical office ISTAT said Thursday.

Industrial output registered a monthly growth of 0.7 percent in July, reversing a 1.1 percent decline in June. Production was expected to rise by 0.3 percent. Moreover, this was quickest growth in eight months.

There was a monthly rise of 2.1 percent in consumer goods output and a 0.5 percent increase in intermediate goods production. Capital goods output was also 0.2 percent higher, while energy production showed a contraction of 0.9 percent.

On a yearly basis, calendar-adjusted industrial output remained flat in July, following a 0.6 percent renewed fall in the prior month. Unadjusted industrial output was also unchanged from June, when it advanced by 2.4 percent.