Italy: Industrial activity falls at sharpest pace since January in June
Industrial output decreased 2.1% month-on-month in seasonally-adjusted terms in June (May: -1.1% mom). The result marked the worst reading since January. The reading was largely driven by a drop in manufacturing output, as it fell at the sharpest pace since January. In addition, mining and quarrying production shrank.
On an annual basis, industrial production declined 1.2% in June, which was well below May’s 3.4% expansion and marked the worst result since January. Moreover, the trend pointed down, with the annual average growth of industrial production coming in at 3.2% in June, down from May’s 4.4%.