2023.07.1110:24:00UTC+00Italy Industrial Output Recovers More Than Forecast

Italy's industrial production expanded for the first time in five months in May, and at a faster-than-expected pace, the statistical office ISTAT showed Tuesday.

Industrial production rose 1.6 percent month-over-month in May, reversing a 2.0 percent drop in April.

All components contributed positively in May. Production of capital goods grew the most, by 1.4 percent over the month, closely followed by intermediate goods with a 1.2 percent gain.

Both consumer goods and energy goods increased by 1.1 percent and 0.1 percent, respectively, in May.

On a yearly basis, industrial production declined at a slower rate of 3.7 percent in May after falling 7.4 percent a month ago.

Data showed that unadjusted industrial production fell 3.6 percent annually in May versus a 10.2 percent decline in the prior month.