Italy Industrial Production Contracts For Fourth Month consecutively

Italy – Industrial production in Italy fell 1.8% month on month in April 2023, the fourth consecutive monthly decline and the sharpest since September 2022, falling short of market expectations of a 0.1% increase, highlighting the industrial sector’s vulnerability to the ECB’s higher borrowing costs. Intermediate goods output fell (-2.6% vs -0.4% in March), capital goods output fell (-2.1% vs 0.7%), consumer goods output fell (-0.4% vs -1.5%), and energy output fell (-0.3% vs -1.7%). Industrial production fell 7.2% year on year, the highest since July 2020.