Moody’s downgrades Senegal to Caa1 amid rising debt concerns
Investing.com -- Italian industrial output fell sharply in August, dropping 2.4% from July, national statistics agency ISTAT reported Friday.
The decline was much steeper than the 0.4% decrease forecast by analysts and represents a significant reversal from July’s confirmed 0.4% month-on-month increase.
On a work day-adjusted year-on-year basis, industrial production plunged 2.7% in August, contrasting with analyst expectations for a 0.5% increase. This marked a substantial deterioration from the 0.9% annual rise recorded in July.
Both the monthly and yearly declines in August were the most severe since December 2024, highlighting renewed challenges for Italy’s manufacturing sector, which has faced long-term struggles.
A survey of 13 analysts by Reuters had anticipated a much milder contraction than what materialized in the official data.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.