Italy industrial production decline is worse than forecast in August

Industrial production in Italy declined in August on both a monthly and annual basis, flash figures from national statistics office Istat showed on Friday.

Industrial production decreased by 2.4% in August from July, reversing a 0.4% increase in July from June. The August decline was worse than market expectations cited by FXStreet for a 0.4% decrease.

The decline in industrial output in Italy was driven by a contraction in energy production by 0.6%, in both consumer goods and intermediate goods by 1.2%, and in capital goods by 2.2%.

On an annual basis, industrial output decreased by 2.7%, following 0.9% growth in July and was worse than market expectations of a 0.4% decrease.