Economics
Italian Industrial Output Surged More Than 40% as Lockdown Eased
July 8: Italy’s Gualtieri Keeps Open Possibility of Using ESM If Needed
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Italian industrial output surged almost twice as much as economists forecast in May when the easing of virus restrictions allowed activity to pick up.
The euro area’s third-largest economy saw production jump 42% from the previous month, compared with forecasts for a 24% increase. However, even with that gain, output is still down more than 20% from a year earlier.