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Italian industrial production continued to decline in July
According to the report from Istat, in July 2019 the seasonally adjusted industrial production index decreased by 0.7% compared with the previous month. The percentage change of the average of the last three months with respect to the previous three months was -0.3%. Economists had expected a 0.1% decrease. The index measures the monthly evolution of the volume of industrial production (excluding construction). With effect from January 2018 the indices are calculated with reference to the base year 2015.
The calendar adjusted industrial production index decreased by 0.7% compared with July 2018 (calendar working days being 23 versus 22 days in July 2018).
Industrial output, on an unadjusted basis, expanded 2.4% annually, in contrast to a 4.2% decrease in June. This was the fastest growth since October.
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