Italy Industry December 2019

Italy

Italy: Industrial production falls sharply in December

February 10, 2020

Industrial output dived 2.7% in December on a month-on-month, seasonally-adjusted basis, following November’s flat reading and logging the sharpest contraction in almost two years.

December’s slump reflected a downturn in both the manufacturing and the mining and quarrying sectors as well as a sharper contraction in the production of electricity, gas, steam and air conditioning. Within the important manufacturing sector, the largest drops were recorded in the production of pharmaceutical products and of rubber products.

On an annual basis, industrial production tumbled 4.3% in December in calendar-adjusted terms, following November’s softer 0.8% fall. Meanwhile, annual the average variation in industrial output improved from minus 1.5% in November, to minus 1.4% in December.

FocusEconomics Consensus Forecast panelists see industrial production rising 0.5% in 2020, which is down 0.3 percentage points from last month’s forecast. For 2021, panelists expect industrial output to expand 1.3%.


Author: Massimo Bassetti, Economist

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Italy Industry December 2019 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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