Italy: Industrial production expands again in July
September 10, 2020
Industrial output rose 7.4% in July on a month-on-month, seasonally-adjusted basis. The reading followed June’s 8.2% expansion.
July’s increase reflected a notable expansion in manufacturing production more than offsetting slight declines in the mining and quarrying and utilities sectors. Within the all-important manufacturing sector, the largest increases were recorded in the production of electronic products and transport.
On an annual basis, industrial production fell 8.0% in July in calendar-adjusted terms, following June’s 13.9% slump. Meanwhile, the annual average variation in industrial production declined from minus 10.0% in June to minus 10.7% in July, the lowest reading in over 10 years.