Latest data released by Istat - 12 September 2018
- Prior +0.5%; revised to +0.3%
- Industrial production WDA -1.3% vs +1.6% y/y expected
- Prior +1.7%; revised to +1.4%
Those are awful figures coupled with negative revisions, and that makes for a really poor report at first glance. It's not a major release by any means but not one that adds to positivity surrounding the Italian/Eurozone economic outlook.
Looking at the details, it's just as bad with production of capital goods - including machinery and equipment - leading the drop here in July. The Italian government is sure going to have to find some other area to do the heavy lifting to reduce that debt-to-GDP ratio.
