Italy: Industrial production fell for the second month in a row

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Italian industrial production fell for a second straight month in June, signaling the factory sector weakened amid high energy prices and slowing demand.

Industrial production in Italy fell 2.1% month-on-month in June, after registering a 1.1% month-on-month drop in May, according to statistics agency Istat.

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Despite falling in May and June, industrial production rose 1.2% overall in the second quarter from the previous three months.

Italy’s economy, the third largest in the eurozone, grew 1% in the second quarter compared to the previous one, thanks mainly to an increase in private consumption.

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Economists do not expect the solid economic performance recorded from April to June to continue in the coming quarters, as growth is likely to be hit by high inflation, the possibility of natural gas shortages and political instability.

Source: Capital

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