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Italy posts better-than-expected industrial output numbers
From:Xinhua  |  2017-07-12 02:06

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ROME, July 11 (Xinhua) -- Italy's industrial production beat expectations to rise by 2.8 percent in May compared to the same period last year, national statistics agency ISTAT reported Tuesday.

Industrial production rose by 0.7 percent in May compared to April, by 0.2 percent in March-May compared to the previous quarter, and by 1.7 percent in the first five months of the year over the same period in 2016, ISTAT said.

"Yearly industrial production +2.8 percent. Better than forecast. Commmitted so growth will mean more jobs, less inequality," tweeted Prime Minister Paolo Gentiloni.

There was a marked rise in production of capital goods, up 5.9 percent, followed by consumer goods up 2.5 percent, energy up 1 percent, and intermediate goods increasing 0.4 percent.

The best-performing sector was transportation vehicle manufacturing with a 7.3 percent growth and the worst-performing sector was mining, dropping 18.8 percent, according to ISTAT.