Industrial Production (May 2020).........>

ITALY DATA: Industrial Production (May 2020) Preview - 09:00 BST

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- BBG Consensus: +24.0% m/m, -30.7% y/y; Previous (Apr): -19.1% m/m, -42.5% y/y 

- Mkts are expecting a rebound of m/m production in May as factories reopened. 

- Monthly output is forecast to rise by 24.0% in May, while annual production is

expected to fall at a slower pace of 30.7%. 

- IP slumped to -19.1% on a monthly basis in Apr, while annual production

plunged 42.5%, however, Apr's pace of decline was slower than March's 28.4% drop

of monthly output. 

- The pandemic impacted data collections in Apr and results are based on less

responses than usual, but according to Istat, strategies to deal with missing

data were implemented. 

- Forecasts are in line with recent survey evidence. 

- Italy's mfg PMI recovered in May and rose again marginally in June, however

the index remains in contraction and the report noted weak demand with new

orders falling again.