ROME (AFX) - Industrial production fell 1.5 pct year-on-year in May and was down 3.1 pct in the first five months of the year, the statistics bureau ISTAT said. On a daily average, industrial output fell 1.6 pct in May from a year earlier, ISTAT said, adding there were 22 working days in both May 2002 and in May 2001. On an seasonally adjusted basis, production rose 1.6 pct in May from April. The widest variations year-on-year were for the production of electrical and precision equipment, down 12.7 pct; leather and shoes, down 9.7 pct and oil derivatives, down 6.0 pct; while the production of rubber and plastic items rose 6.4 pct; wood and wood products rose 6.1 pct and food, drinks and tobacco rose 5.1 pct.