By Giada Zampano
ROME--Italy's industrial production rose more than expected in June, as output of all products increased except for intermediate goods.
Industrial output in the euro zone's third-largest economy rose 0.9% on the month in seasonally adjusted terms, the highest rise since January, national statistics institute Istat said Wednesday. An average forecast of 13 economists polled by Dow Jones Newswires had forecast a 0.6% increase.
The rise was led by a 2.6% increase in investment goods, a key driver of Italy's subdued economic recovery, followed by a 2.5% rise in consumer goods, Istat said. The expansion in consumer good output was the highest since May 2013.
Energy rose 0.3% in June, while intermediate goods fell by 0.2%, Istat data showed.
Italian industrial production rose 0.4% on the year in June in workday-adjusted terms, Istat said. A Dow Jones Newswires poll of eight economists had expected a 1.2% drop.
Istat revised May's industrial output figure to a 1.7% fall on the year from a preliminary estimate of a 1.8% decrease.
Write to Giada Zampano at firstname.lastname@example.org
(END) Dow Jones Newswires
August 06, 2014 04:39 ET (08:39 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.