Italy Industrial Production Shrinks 0.3%

(RTTNews) - Italy's industrial production declined for the first time in four months in May, the statistical office ISTAT said Friday.

Industrial output registered a monthly decrease of 0.3 percent in May, reversing a 0.4 percent rise in April. That was faster than the 0.2 percent fall expected by economists.

There was a monthly contraction of 0.8 percent in intermediate goods output and a 0.5 percent decline in consumer goods production. The capital goods division produced 0.1 percent less, while energy production grew sharply by 4.6 percent.

On a yearly basis, calendar-adjusted industrial output expanded at a steady pace of 1.1 percent in May. Production has been rising since February.

Unadjusted industrial output declined 1.9 percent in May, in contrast to a 4.8 percent growth in the prior month.