Italy Industrial Production Rises Further; Retail Sales Decline

Italy Industrial Production Rises Further; Retail Sales Decline

Italy's industrial production increased for the second straight month in June, while retail sales declined, figures from the statistical office Istat showed Friday.

Industrial output climbed a seasonally adjusted 0.5 percent month-over-month in June, slower than the 0.8 percent rise in May. However, that was above the 0.4 percent increase economists had forecast.

Among groupings, production in the capital goods sector grew 1.4 percent over the month and those of consumer goods advanced by 0.9 percent.

Adjusted for calendar effects, annual industrial production growth eased to 1.7 percent in June from 2.2 percent in the previous month. The expected growth was 1.5 percent.

During the first half of this year, total industrial production advanced 2.6 percent compared with same period of 2017.

Another report from the statistical office revealed that retail sales value decreased 0.2 percent monthly in June, reversing a 1.1 percent rise in May. In contrast, sales were expected to increase by 0.1 percent.

On an annual basis, retail sales grew at a faster pace of 1.5 percent in June, following a 0.8 percent gain in the prior month.

In volume terms, retail sales dropped 0.3 percent monthly in June, while it rose 0.5 percent from a year earlier.

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