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Italy's Industrial Output Continues To Fall

Industrial production in Italy dropped for a thirteenth consecutive month in September, but the pace of decline has eased, a report from statistical office Istat showed Friday.

Industrial production slid 4.8 percent year-on-year in September on a working day adjusted basis. This was slower than the 5.2 percent fall in the previous month.

The pace of decline has been slowing steadily since June this year. Economists had forecast a 4.7 percent fall in output.

Month-on-month, output contracted 1.5 percent, reversing a 1.7 percent growth in the prior month. The outcome was roughly in line with forecast for a 1.6 percent drop.

Energy output shrank 7.8 percent year-on-year in September. Production of intermediate goods fell 5.8 percent and that of capital goods dropped 4.2 percent. Output of consumer goods was 2.5 percent lower than the year earlier.

During the first nine months of the year, overall production decreased 6.5 percent compared to the same period last year.

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