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Italy's Industrial Production Declines More Than Forecast

Italy's industrial production declined more-than-expected in July, the statistical office Istat showed Tuesday.

Industrial production fell 0.7 percent in July from June, when output was down 0.3 percent. Economists had forecast a 0.1 percent drop for July.

On a yearly basis, industrial output decreased unexpectedly by 0.7 percent after declining 1.2 percent in June. Production was expected to grow 0.3 percent.

Industrial output, on an unadjusted basis, expanded 2.4 percent annually, in contrast to a 4.2 percent decrease in June. This was the fastest growth since October.

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