Italy Industry May 2016

Italy

Italy: Industrial production falls in May

July 11, 2016

In May, industrial output fell 0.6% over the previous month, swinging from April’s 0.4% growth. May’s reading contrasted market expectations of a 0.1% rise. The contraction was due to the decline recorded in the manufacturing sector, while production in the energy and the mining and quarrying sectors dropped at a softer pace than in the previous month.

On an annual basis, industrial production fell a working-day adjusted 0.6% in May, which strongly contrasted the 1.8% increase tallied in April and marked the lowest reading in five months. Annual average growth in industrial output decreased from April’s 1.6% to 1.3% in May, also marking a five-month low.

FocusEconomics Consensus Forecast panelists see industrial production growing 1.5% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect industrial output to expand 1.5%.


Author: Massimo Bassetti, Economist

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Italy Industry May 2016 0

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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