Italian Industrial Production Fell in June for Second Month in a Row

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By Xavier Fontdegloria

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Italy’s industrial production fell for a second consecutive month in June, signaling that the country’s factory sector weakened amid high energy prices and slowing demand.

Italian industrial output fell 2.1% on month in June after registering a 1.1% monthly decline in May, data from the country’s statistical office Istat showed Friday.

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Despite the declines in both May and June, industrial production rose 1.2% overall in the second quarter compared with the preceding three-months period.

Italy’s economy, eurozone’s third-largest, expanded by 1% in the second quarter compared with the previous one driven by an increase in private consumption. Economists don’t expect the solid economic performance registered from April to June to continue in the coming quarters as growth is likely to be hit by high inflation, the possibility of natural gas shortages, and political instability.

Write to Xavier Fontdegloria at [email protected]

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Credit: www.marketwatch.com /

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