Skyline of Florence, Italy

Italy Industry April 2021

Italy: Industrial output rises at fastest clip in eight months in April

Industrial output expanded 1.8% month-on-month in seasonally-adjusted terms in April (March: +0.3% mom), marking the best result since August 2020. The pick up was partly due to faster manufacturing production growth. In contrast, mining and quarrying output fell markedly.

On an annual basis, industrial output increased 79.5% in April, notably above March’s 38.4% expansion and marking the best result on record. That said, the print was flattered by a favorable base effect. Accordingly, the trend improved, with the annual average variation of industrial production coming in at plus 5.0%, contrasting March’s minus 5.3% reading.

Commenting on the outlook for industrial production and the overall economy, Paolo Pizzoli, senior Italy and Greece economist at ING, reflected:

“After today’s release, industry looks set to confirm a strong GDP growth driver for 2Q21, hopefully in conjunction with services, which will be benefiting from the ongoing accelerated re-openings made possible by a successful vaccination campaign. We have recently upgraded our forecasts for average 2021 Italian GDP growth to 4.3%, but after today’s release, we anticipate a stronger than expected acceleration over 2Q21, which adds clear upwards risks.“

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