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

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MNI: ITALY DATA: Industrial Production (May 2019) Preview - 09:00 BST
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- Bloomberg Consensus: 0.2% m/m, -1.5% y/y; Previous (Apr): -0.7% m/m, -1.5% y/y
- Italian IP contracted by 0.7% m/m in Apr, following a 1.0% decline in Mar,
leaving output 1.5% lower than a year ago
- And the details of the data revealed an even more disappointing picture - core
manufacturing output fell by 0.9%, down for a second successive month...
- ... as capital goods production plunged by 2.5% to its lowest level since
mid-2017, while production of intermediate and consumer goods also weakened
- Markets expect only a meagre rebound in output in May, and forward-looking
indicators point to ongoing softness going forward
- Industrial orders fell by 1.4% in average over Feb-Apr compared to Nov-Jan
- Meanwhile, Italy's headline manufacturing PMI registered below the 50
no-change mark for the ninth consecutive month in Jun... 
- ... as firms reported an eleventh successive decline in both output & new
orders

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