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MNI: ITALY DATA: Industrial Production (Apr 2019)....>

MNI: ITALY DATA: Industrial Production (Apr 2019) Preview - 09:00 BST
- Bloomberg Consensus: 0.1% m/m, -0.5% y/y; Previous (Mar): -0.9% m/m, -1.4% y/y
- Italian IP contracted by 0.9% m/m in Mar, with production of consumer goods
particularly weak (-2.3%)
- However, with growth in excess of 1% m/m in Jan & Feb, output was still up
1.0% q/q in Q1 - its first quarterly gain since Q4 2017
- ... but that did little more than reverse the decline in Q4
- And while markets expect a small rebound in output in Apr, forward-looking
indicators point to renewed weakness over Q2
- Industrial orders stagnated in Q1 after dropping by 1.7% q/q in Q4
- Meanwhile, Italy's headline manufacturing PMI (as well as its output & new
orders components)...
- ... continue to indicate deteriorating conditions in the industrial sector

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