Italy: Industrial production contracts notably in July
September 12, 2018
Industrial output contracted 1.8% in July on a month-on-month, seasonally-adjusted basis, following June’s revised 0.3% increase (previously reported: +0.5% month-on-month). July’s fall came on the back of a broad-based contraction in the manufacturing; electricity, gas, steam and air conditioning; and mining and quarrying sectors. Within the manufacturing sector, the production of pharmaceutical products and means of transport posted the sharpest drop.
On an annual basis, industrial production decreased 1.3% in July, contrasting June’s revised 1.4% rise (previously reported: -1.7% year-on-year). Meanwhile, annual average growth in industrial output declined to 3.1% in July from 3.6% in June.
Italy Industrial Production Forecast
FocusEconomics Consensus Forecast panelists see industrial production growing 1.6% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect industrial output to expand 1.5%.