Italian economy likely to grow at 0.5/0.6% qoq

Markit's factory PMI during the month of May (57.1, the highest since the beginning of 2011) indicates Italian economy started performing well. This is because, industrial output is one of the best indicator of GDP growth.

The Italian national statistical institute (Istat) is expected to report that industrial activity growth, nationwide, was very positive in May (+0.9% mom), more than offsetting the modest 0.3% drop recorded in April (which is, besides, likely to be revised upwards according to our statistical tools). 

Based on the performance of industrial production, Societe Generale forecasts, the country's GDP is likely increase at 0.5/0.6% qoq during the second quarter 2015, is above their last-published projection.