ROME, Sept. 12 (Xinhua) -- Industrial production in Italy grew slightly in July amid roaring energy costs, Italy's National Statistics Institute (ISTAT) reported Monday.
According to the ISTAT, the measure of industrial output -- which includes manufacturing, construction, mining, and utilities -- climbed by 0.4 percent in July compared to June. Higher energy costs have dragged down the overall trend of growth in the country.
However, the broad indicator for the May-to-July period declined by 1.6 percent compared to the previous three months.
Industrial production is considered a leading indicator, showing the direction of the economy before data is revealed in terms of economic growth or decline.
The biggest movers involved energy-related outputs, which grew by 3.2 percent, and consumer goods, which saw a 1.0-percent increase. Capital goods and intermediate goods, meanwhile, decreased by 2.0 percent and 4.4 percent respectively.
The economic sector with the biggest growth trend in July was the manufacture of coke and refined petroleum products, which saw a 15.0-percent rise. Pharmaceutical products, which do not have a direct connection to energy prices, grew by 3.3 percent. Metallurgy and the manufacture of metal products, both areas where profit margins are reduced by higher energy prices, decreased by 8.1 percent. Meanwhile, manufacturing of rubber and plastic, and chemical products also declined. ■