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Italian July industrial production points to upside risks for GDP

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Italian July industrial production points to upside risks for GDP

Mon, 11 September 2017
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Italian July industrial production points to upside risks for GDP

(ShareCast News) - Italian industrial production edged higher in July, contrary to forecasts, on the back of higher output of capital goods.


Total output was 0.1% higher on the month, according to ISTAT, ahead of economists' projections for a fall of 0.5% on the month.

Versus a year earlier, production stood 4.4% higher.

In comparison to the month before, output of consumer goods was up by 0.5% and that of intermediate goods by 0.3%, while energy production declined by 3.6%.

Output of capital goods on the other hand jumped by 1.6% versus June.

Commenting on Monday's release, Fabio Fois at Barclays Research said: "Against the backdrop of ongoing solid manufacturing prints and improving business sentiment across sectors, including construction, we attach up to 0.25pp upside risks to our current 0.2% q/q growth forecast for Q3, as also indicated by our GDP indicator."