FX.co ★ Italy Industrial Production Falls Further On Consumer Goods Slump

Italy's industrial production decreased for the second straight month in October, largely led by a sharp fall in consumer goods output and to a lesser extent by the sluggishness in the energy sector, the statistical office Istat said on Tuesday.

Industrial production fell a seasonally-adjusted 1.0 percent month-on-month in October, following a 1.7 percent rise in September. Economists had forecast a 0.4 percent decrease.

Production in the consumer goods sector dropped the most, by 3.0 percent, since September. Production of energy products also registered a contraction of 1.2 percent.

On a yearly basis, industrial production fell a calendar adjusted 1.6 percent in October, faster than the 0.4 percent drop in the prior month. Economists had forecast a 0.1 percent slight decrease.