FX.co ★ Italy Industrial Output Unexpectedly Falls 1.0%

Italy's industrial production saw an unexpected decline for the second consecutive month in April, according to data released by ISTAT, the national statistical office, on Monday.

The industrial output decreased by 1.0% month-on-month in April, following a 0.5% reduction in March. This came as a surprise to economists who had predicted a 0.3% increase in production.

Energy goods production fell by 2.1% over the month, while output of intermediate goods decreased by 1.2%. Additionally, the production of capital goods experienced a slight decline of 0.1%, and consumer goods production remained unchanged.

Year-over-year, the drop in industrial production eased slightly to 2.9% from a 3.2% decline in March. This yearly decline was mainly influenced by all subsectors, particularly within the energy and consumer goods sectors.

However, on an unadjusted annual basis, industrial production saw a resurgence, increasing by 4.7% compared to the same month last year, after experiencing a significant 10.3% plunge in the previous month.