Highlights of the June 2016 Italian industrial production report 5 August 2016

  • -1.0% vs 1.0% exp y/y WDA. Prior -0.6%
  • -1.0% vs 5.7% prior y/y NSA

The market expected a gain but a drop for the second month running. That's not going to be good for the GDP release next week. Like Spain, industry is around 20/25% of the economy.

Consumer, investment and energy production were the main culprits.

Italian industrial production y/y