Italy Industry


Industrial production drops unexpectedly in August

In August, industrial output fell a seasonally-adjusted 0.3% over the previous month. The reading marked an improvement over the 1.0% drop recorded in July (previously reported: -1.1% month on month) but contrasted market expectations of a 0.6% increase. At a sector level, both manufacturing and mining and quarrying improved over to the previous month, whereas electricity, gas and water recorded a larger contraction compared to July.

On an annual basis, industrial output fell a working-day adjusted 4.6%, which was below the 4.2% drop recorded in July. Industrial production has been contracting for 24 consecutive months. Meanwhile, annual average growth in industrial output inched up from minus 4.9% in July to minus 4.8% in August.

FocusEconomics Consensus Forecast panelists see industrial production contracting 3.2% in 2013, which is down 0.3 percentage points from last month's forecast. For 2014, panelists expect industrial output to expand 0.8%, which is down 0.1 percentage points from last month's projection.

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Italy Industry Chart

Italy Industry August 2013

Note: Month-on-month changes of seasonally adjusted industrial production and annual average growth rate in %.
Source: National Statistical Institute (Istat).

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