Italy Industrial Output Unexpectedly Rises 0.4%

(RTTNews) - Italy's industrial production increased for the second straight month in July, the statistical office ISTAT reported Wednesday.

Industrial output advanced 0.4 percent month-on-month in July, following a 0.2 percent rebound in June. Meanwhile, economists had expected a slight decrease of 0.1 percent.

Production of consumer goods grew 2.1 percent, and output increased 1.6 percent and 0.7 percent, respectively, in the capital and intermediate goods. At the same time, the energy segment showed a sharp contraction of 7.8 percent.

Compared to last year, calendar-adjusted industrial production logged a recovery of 0.9 percent, following a 0.7 percent fall in June.

On an unadjusted basis, industrial output also rose 0.9 percent versus a 0.7 percent decline in the previous month.