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Italy Industrial Production Rises Unexpectedly In July

Italy's industrial production increased for the third straight month in July, defying economists' forecast for a decline, data from the statistical office Istat showed Monday.

Industrial output edged up a seasonally adjusted 0.1 percent month-on-month in July, well below the 1.1 percent increase posted in June. In contrast, it was expected to drop by 0.3 percent.

On a yearly basis, calendar-adjusted industrial production growth eased to 4.4 percent in July from 5.2 percent in the prior month.

During the first seven months of the year, total industrial production advanced 2.6 percent compared with the same period of 2016.

by RTTNews Staff Writer

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