Italian Industrial Output Rises More Than Expected In July

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Italy's industrial production rose 1% month-on-month in July, statistical office Istat said Friday. Economists had expected an increase of 0.4%.

In June, industrial output fell 0.6%, revised up from a 1.2% decline reported originally.

On a calendar adjusted basis, industrial production fell 18.2% year-on-year in July, at a slower pace than the 21% drop expected.

In July, the pace of decline lessened from June's fall of 21.6% that was revised from a 21.9% contraction initially reported. However, output fell for a fifteenth consecutive month.

On an unadjusted basis, there was an annual decline of 17.5% in July, which was followed by a 19.4% contraction in June.

Italy's industrial production rose 1% month-on-month in July, statistical office Istat said Friday. Economists had expected an increase of 0.4%. (Market News Provided by RTTNews)