Italy’s industrial production decreased unexpectedly in May, after rising in the previous month, figures from the statistical office Istat showed Monday.
Industrial production fell a seasonally adjusted 0.6 percent month-over-month in May, defying economists’ expectations for a 0.1 percent rise. In April, production had risen 0.4 percent.
On an annual basis, industrial production also declined 0.6 percent in May, reversing a 1.8 percent climb in the prior month. It was the first drop in five months.
Among the main industrial groupings, production of energy dipped 5.9 percent and that for capital goods slid by 1.5 percent. At the same time, output in the intermediate goods sector registered a growth of 1.8 percent.
During the first five months of the year, total industrial production grew 1.3 percent compared with the same period of 2015.
The material has been provided by InstaForex Company – www.instaforex.com