Italy Industry June 2022

Italy

Italy: Industrial activity falls at sharpest pace since January in June

August 5, 2022

Industrial output decreased 2.1% month-on-month in seasonally-adjusted terms in June (May: -1.1% mom). The result marked the worst reading since January. The reading was largely driven by a drop in manufacturing output, as it fell at the sharpest pace since January. In addition, mining and quarrying production shrank.

On an annual basis, industrial production declined 1.2% in June, which was well below May’s 3.4% expansion and marked the worst result since January. Moreover, the trend pointed down, with the annual average growth of industrial production coming in at 3.2% in June, down from May's 4.4%.

FocusEconomics Consensus Forecast panelists see industrial production rising 1.6% in 2022, which is up 0.6 percentage points from last month’s forecast. For 2023, panelists expect industrial output to expand 1.6%


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Italy Industry June 2022

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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