Italy IP took a breather in June, still a remarkable improvement in Q2

Industrial production is one of the best metrics to track GDP growth. As such, the projection, which is marking a remarkable improvement during the second quarter, on average, would be consistent with GDP increasing by 0.4% qoq during the second quarter 2015.

Consistent with the drop level experienced by Markit's factory PMI during the month of June, from 57.1 to 55.6 is still a relatively high level. 

"The Italian  national statistical institute (Istat) is expected to report that industrial activity growth, nationwide, slowed during the month of June (+0.0% mom), following the sizable 0.9% gain posted in May", says Societe Generale.