Unexpected drop in Italian industrial output

Industrial output in Italy has fallen by -1.1 per cent in July, down from 0.2 per cent in May.

Analysts expected a 0.3 per cent drop. The figures, released by the National Institute of Statistics, show a year-on-year decrease of -4.3 per cent (down from -2.1 per cent) but analysts expected only -2.5 per cent.