Italy industrial output rose 42.1% mom in May, well above expectations

Italy industrial output rose 42.1% mom in May, well above expectation of 19.2%. That’s also much more than enough to reverse April’s -20.5% mom decline. Nevertheless, for the last three months over the previous three months, productions still dropped -29.9%. Comparing with May 2019, productions dropped -20.3% yoy.

Full release here.