Rome

Italian industrial production down 1.1% in July

Disappointment as run of two month-on-month rises ends

Italian industrial production down 1.1% in July

Rome, September 12 - Industrial production in recession-hit Italy dropped 1.1% in July compared to June, according to seasonally adjusted data released by national statistics agency Istat Thursday. The drop is a disappointment to analysts as it comes after two consecutive month-on-month rises in production that had been seen as signs Italy is pulling out of its longest recession in over two decades. Furthermore, the 1.1% drop was the biggest month-on-month fall since June 2012. Industrial production was 4.3% lower in July than in the same month in 2012, the 23rd consecutive year-on-year drop, Istat said.

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