Industrial production in Italy unexpectedly dropped by 1.2% month-over-month in May.
Economists were forecasting a modest 0.2% gain.
“The surprising decline in industrial production in May throws doubt on the expected Italian recovery in the second quarter,” said Bloomberg’s Maxime Sbaihi and David Powell.
This report follows disappointing industrial production and inflation data out of France earlier today.
All of this puts increasing amounts of pressure on the European Central Bank to be more aggressive in its efforts to stimulate growth in the eurozone.
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