Skyline of Florence, Italy

Italy Industrial production September 2023

Italy: Industrial output deteriorates in September

Industrial output was flat month-on-month in seasonally adjusted terms in September (August: +0.3% mom). Looking at the details of the release, manufacturing output increased at a softer rate in September, while mining and quarrying output accelerated. Meanwhile, electricity, gas, steam and air conditioning output also expanded.

On an annual basis, industrial output fell 2.0% in September, moderating notably from August’s 4.2% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.6% in September, down from August’s minus 2.4% reading.

Industrial production is expected to decline this year and bounce back, albeit only partially, in 2024 due to a recovery in exports fueled by Germany’s economic rebound.

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

“Looking ahead, high-frequency confidence data for October suggests that manufacturing weakness will likely remain in place over the last quarter of 2023. Softening orders are reportedly weighing on current and expected production, pointing to a possible negative contribution of manufacturing to value added generation over the last quarter of 2023.”

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