Italy’s industrial production increased at a faster-than-expected pace in May, after falling in the previous month, figures from the statistical office Istat showed Friday.
Industrial production rose a seasonally adjusted 0.9 percent in May, exceeding economists’ expectations for a 0.3 percent gain. In April, production had fallen 0.3 percent.
Production in the capital goods sector advanced 2.3 percent in May from a month ago and energy sector logged a growth of 1.7 percent.
On a yearly basis, industrial production climbed a calendar-adjusted 3.0 percent in May, following a 0.1 percent mere increase in April.
Economists had forecast a 1.2 percent gain for the month. It was the third month of rise in a row.
During the five months of the year, total industrial output grew 0.5 percent compared with the corresponding period last year.
The material has been provided by InstaForex Company – www.instaforex.com