Italy's industrial production falls unexpectedly in April
Industrial output declined 0.4% month-on-month in April, offsetting the 0.4% rise in March. This was the first fall in three months and came in contrast to the 0.2% rise economists had forecast.
On a yearly basis, industrial production climbed by calendar adjusted 1%, slower than the 2.9% increase in the previous month. Output was forecast to grow 2.5%.
Although the output logged expansion for three straight months, this was the weakest in the current sequence of growth.
On an unadjusted basis, industrial output fell 6.5% annually, in contrast to March's 7.7% increase. ■