Italian industrial output fell by 0.3% in May, more than expected, according to official data. This drop ends a three-month positive streak for the euro zone’s third-largest economy.
Industrial Output Trends
The decline in May follows three consecutive increases. In the March-to-May period, output was up 0.9% compared to the previous three months, as reported by the national statistics agency ISTAT.
On a work day-adjusted year-on-year basis, industrial output rose 1.1% in May, slightly below the forecasted 1.3% increase. The government has cut its economic growth outlook for this year and next to 0.6%, reflecting increased energy costs and geopolitical tensions.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
