Italy’s industrial production recovered unexpectedly in July, data published by the statistical office Istat showed Friday.
Industrial output grew 1.1 percent month-on-month, reversing a revised 1 percent drop in June. It was expected to fall by 0.8 percent in July.
Production of energy logged a strong growth of 7.1 percent from the prior month. At the same time, consumer goods output climbed 1 percent and capital goods by 0.3 percent. Intermediate goods output moved up 0.6 percent.
On a yearly basis, industrial production advanced by calendar adjusted 2.7 percent, in contrast to a 0.3 percent fall in June. Economists had forecast only a 0.9 percent rise for July.
Unadjusted industrial output also grew 2.7 percent, but slower than the 2.9 percent seen in the prior month.
During May to July, industrial output gained 0.5 percent from the previous three months.
The material has been provided by InstaForex Company – www.instaforex.com