Italian industrial output rose unexpectedly in April for the first time in a year, a report released by Italian statistics office Istat has said.

Industrial production rose 1.1% on the month from an upwardly revised 4.5% fall in March. Seasonally adjusted figures show industrial production fell 24.2% on the year, compared with an annual 23.8% fall in March.

Analysts had forecast a 0.3% fall in April and a 24.3% drop on the year.

Following the release, the euro rates have slipped slightly against the US dollar to an interbank rate of 1.4072.

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The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.