Italian Industrial Output Falls Less Than Expected In July

Italian Industrial Output Falls Less Than Expected In July


Italy's industrial production decreased more than economists expected in July, data released by statistical office Istat showed Wednesday.
Industrial production declined a working-day adjusted 7.3 percent on an annual basis in July, slower than the 7.6 percent fall economists had forecast.
On an unadjusted basis, industrial output decreased by 4.4 percent compared to last year in July, the agency said.
On a monthly basis, production dropped a seasonally adjusted 0.2 percent in July, while economists were looking for a 0.4 percent fall. In the January- July period, production decreased 7 percent on an adjusted basis from the corresponding period a year earlier, data showed.