Italy Industry September 2017

Italy

Italy: Industrial production drops in September

November 10, 2017

Industrial output contracted 1.3% in September on a month-on-month seasonally adjusted basis, contrasting August’s 1.2% growth and coming in well below analysts’ expectations, which forecast a 0.3% drop. The result came on the back of a decline in both the manufacturing and the electricity, gas, steam and air conditioning sub-sectors, while the mining and quarrying sub-sector remained unchanged from the previous month. The manufacturing sub-sector was particularly influenced by the notable contraction recorded in the production of both pharmaceutical, chemical and metal products.

On an annual basis, industrial production expanded by a working-day adjusted 2.4% in September, following August’s stronger 5.8% rise. September marked the eighth consecutive month of year-on-year growth. Annual average growth in industrial output remained unchanged at August’s 3.1% in September, the strongest print since September 2011.

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%.


Author: Massimo Bassetti, Economist

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Italy Industry September 2017

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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