Italian Industrial Production Resumes Decline In June

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Italian industrial output in June fell 1.2% month-on-month after posting zero growth in May and an increase of 1.1% in April, the statistical office Istat said Thursday. Economists had forecast an increase of 0.5% for June.

On an annual basis, the working day adjusted industrial production fell 21.9% after a revised drop of 19.9% in May. This has been falling since May 2008. The decline in June exceeded economists' forecast for a 20% fall.

The not seasonally adjusted industrial output was down 19.7% in June, slower than a revised drop of 22.8% in May. Production has been falling since August 2008.

Italian industrial output in June fell 1.2% month-on-month after posting zero growth in May and an increase of 1.1% in April, the statistical office Istat said Thursday. Economists had forecast an increase of 0.5% for June. (Market News Provided by RTTNews)