- Italian industrial output unexpectedly dropped 1.1% on month in July from +0.2% in June and badly missed consensus of +0.3%.
- On year, production -4.3% vs -2.1% and -2.5%.
- The wretched figures may have put paid to any hopes that Italy will emerge from its longest post-war recession in Q3, especially as industrial output closely correlates to GDP in the country.
- The FTSE MIB takes a dive and is -0.5%, but 10-year bond yields are little changed at 4.53%.
- ETFs - EWI, ITLT, ITLY. (PR)
Italian industrial output slumps
Sep 12 2013, 04:36 ET