Italy industry output plunges 2.4% m/m in August, far weaker than expected

ROME, Oct 10 (Reuters) – Italian industrial output slumped in August by 2.4% from the month before, data showed on Friday, in a renewed sign of weakness for the country's long-struggling manufacturing sector. A Reuters survey of 13 analysts had pointed to a 0.4% decrease. National statistics agency ISTAT confirmed July's data at a 0.4% month-on-month rise. On a work day-adjusted year-on-year basis, industrial output plunged 2.7% in August versus a forecast for a 0.5% increase, following a 0.9% rise in July. Both the month-on-month and year-on-year declines in August were the steepest since December last year. ISTAT gave the following details. INDUSTRIAL PRODUCTION AUG JULY JUNE Mth/mth pct change (adjusted) -2.4 0.4 0.1 Yr/yr pct change (adjusted) -2.7 0.9 -0.7 Yr/yr pct change (unadjusted) -5.7 0.9 -0.7 (Reporting by Antonella Cinelli, editing by Gavin Jones)

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