Italy: Industrial production expand strongly in June following May's record-breaking rebound
August 7, 2020
Industrial output jumped 8.2% in June on a month-on-month, seasonally-adjusted basis. The reading followed May’s 41.6% rebound which had marked the strongest expansion on record.
June’s increase reflected a notable expansion in manufacturing production; a marked jump in the mining and quarrying sector; and more moderate growth in the utilities sector. Within the all-important manufacturing sector, the largest increases were recorded in the production of means of transport, repair and installation of machinery and equipment and textiles.
On an annual basis, industrial production fell 13.7% in June in calendar-adjusted terms, following May’s 20.5% slump. Meanwhile, the annual average variation in industrial production declined from minus 8.9% in May to minus 10.0% in June, the lowest reading in over 10 years.