Skyline of Florence, Italy

Italy Industrial production March 2023

Italy: Industrial activity dips in March

Industrial output declined 0.6% in month-on-month seasonally-adjusted terms in March, which was a deterioration from February’s 0.2% decrease. The downturn largely reflected contractions in mining and quarrying and electricity, gas, steam and air conditioning production. However, manufacturing output declined at a more moderate rate.

On an annual basis, industrial production fell at a more pronounced rate of 3.2% in March (February: -2.3% yoy). Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.4%, contrasting February’s plus 0.2% reading.

Commenting on the outlook, Paolo Pizzoli, senior economist at ING, stated:

“A third consecutive month of contraction confirms the ongoing soft patch in industry, with a divergence between consumer goods and investment goods. We believe this is related to two ongoing factors: a re-composition of consumer demand away from goods and toward services, and the impact of the inflow of European Recovery and Resilience funds, which are activating private and public investments. Looking ahead, based on business confidence and PMI data, a short-term recovery in industrial production does not seem likely, at least in the short term.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest