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flag Italy's industrial output dropped 2.4% in August, its sharpest decline in eight months.

flag Italy’s industrial output fell 2.4% month-on-month in August, the steepest decline in eight months, according to ISTAT, reversing a 0.4% gain in July and missing expectations of a 0.3% drop. flag Annual output declined 2.7%, reversing a prior gain. flag The drop was broad-based, with capital goods, consumer goods, and intermediate goods all falling. flag In the U.S., Fed minutes revealed divided views on rate policy, mortgage applications declined for a second week, and crude inventories rose more than expected. flag Japan saw a 0.6% rise in household spending and a 3.776 trillion yen current account surplus. flag The WHO confirmed vaccines remain effective against the spreading Stratus variant. flag PepsiCo reported strong earnings and named Walmart’s Steve Schmitt as new CFO. flag Starbucks announced a $1 billion restructuring involving 900 job cuts and store closures.

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