EUR ECON: Italian July IP -0.4%m/m vs. Revised -0.6% In June

Italian SA industrial production recorded another fall in July by 0.4% m/m against market expectations of a rise by 0.3%. Annually it declined by 0.5%. The dip follows already very poor data published for June with production falling by 0.6% m/m (revised) and 0.1% y/y.

ISTAT reported a fall in intermediate and energy goods by 1.5% and 0.5% respectively which drove the fall in industrial production. As expected consumer goods were up 0.5% in July after dipping in June by 1.8%. Note that there were 22 working days in July 2007 against 21 the same month last year.