Italy Industry April 2019

Italy

Italy: Another drop in industrial output in April casts a shadow on economic performance in Q2

June 11, 2019

Industrial output contracted 0.7% in April on a month-on-month, seasonally-adjusted basis, following March’s revised 1.0% decrease (previously reported: -0.9% month-on-month). April’s drop came on the back of lower production in the manufacturing, and mining and quarrying sectors. In contrast, production of electricity, gas, steam and air conditioning swung from contraction to expansion. Within the important manufacturing sector, the production of machinery and equipment, and of electrical and electronic equipment fell sharply. However, the manufacture of pharmaceutical products—traditionally quite volatile—expanded significantly.

On an annual basis, industrial production shrank 1.5% in April in calendar-adjusted terms, following March’s 1.6% drop. Meanwhile, annual average growth in industrial output was equal to minus 0.7% in April, down from the minus 0.4% print in March and the weakest reading in four years.

Italy GDP Forecast


FocusEconomics Consensus Forecast panelists see industrial production growing 1.5% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect industrial output to expand 1.3%.


Author: Massimo Bassetti, Senior Economist

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Italy Industry Chart


Italy Industry April 2019

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


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