Italy Industry

Italy

Italy: Industrial production falls to lowest level in more than a year

September 12, 2013

In July, industrial output fell a seasonally-adjusted 1.1% over the previous month. The reading contrasted both the 0.2% expansion recorded in June (previously reported: +0.3% month on month), and market expectations which had industrial output growing at 0.3%. The result was driven by a strong contraction mining and quarrying as well as manufacturing.

On an annual basis, industrial output fell a working-day adjusted 4.3%, which was below the 2.1% drop recorded in June. Industrial production has been contracting for 23 consecutive months. In addition, annual average growth in industrial output inched up from minus 5.0% in June to minus 4.9% in July.

FocusEconomics Consensus Forecast panelists see industrial production contracting 3.3% in 2013, which is down 0.1 percentage points from last month's forecast. For 2014, panelists expect industrial output to expand 0.9%.


Author:, Senior Economist

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Italy Industry July 2013

Note: Month-on-month changes of seasonally adjusted industrial production and annual average growth rate in %.
Source: National Statistical Institute (Istat).


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