Italian industry boosts economic outlook

Italian industrial production rose more than expected in August, signalling that the recovery in the euro region’s third-biggest economy is gaining pace.

Industrial output increased 1.2% from July, when it rose 0.1%, Italy’s national statistics agency Istat said yesterday.

The median estimate in a Bloomberg survey of 19 analysts called for a 0.1% monthly rise. On an annual, workday adjusted basis, industrial production in August was up 5.7%, about twice the estimated 2.9% rise.