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Italy Industrial production July 2023

Italy: Industrial output deteriorates in July

Industrial output dropped 0.7% month-on-month in seasonally-adjusted terms in July (June: +0.5% mom). July’s weakening was largely due to a deterioration in manufacturing output. In addition, mining and quarrying production fell.

On an annual basis, factory output fell at a sharper rate of 2.0% in July (June: -0.8% yoy). Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 2.0%, down from June’s minus 1.9% reading.

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