Italy Industry July 2019


Italy: Industrial production contracts again in July

September 10, 2019

Industrial contracted 0.7% in July on a month-on-month, seasonally-adjusted basis, following June’s revised 0.3% drop (previously reported: -0.2% month-on-month). July’s fall came on the back of lower production in the manufacturing sector. In contrast, production of electricity, gas, steam and air conditioning continued to expand and mining and quarrying output rebounded. Within the important manufacturing sector, the production of pharmaceutical products—traditionally quite volatile—plummeted, and the production of rubber and rubber products contracted. On the flip side, the manufacture of chemical products and of electronical products expanded.

On an annual basis, industrial production shrank 0.7% in July in calendar-adjusted terms, following June’s 1.2% drop. Meanwhile, annual average growth in industrial output was equal to minus 1.1% in July, up from the minus 1.2% print in June.

FocusEconomics Consensus Forecast panelists see industrial production recording zero growth in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, panelists expect industrial output to expand 1.0%.

Author: Massimo Bassetti, Senior Economist

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Italy Industry Chart

Italy Industry July 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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