Italy Industry June 2019

Italy

Italy: Industrial production goes downhill in June

August 2, 2019

Industrial contracted 0.2% in June on a month-on-month, seasonally-adjusted basis, contrasting May’s revised 1.0% increase (previously reported: -0.9% month-on-month). June’s downturn came on the back of lower production in the manufacturing, and mining and quarrying sectors. In contrast, production of electricity, gas, steam and air conditioning continued to expand. Within the important manufacturing sector, the production of electrical and electronic equipment, of textile products and of means of transportations dropped notably. On the flip side, the manufacture of pharmaceutical products—traditionally quite volatile—and of coke and oil products expanded.

On an annual basis, industrial production shrank 1.2% in June in calendar-adjusted terms, following May’s 0.7% drop. Meanwhile, annual average growth in industrial output was equal to minus 1.1% in June, down from the minus 0.9% print in May and the weakest reading in over five years.

FocusEconomics Consensus Forecast panelists see industrial production recording zero growth in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, panelists expect industrial output to expand 1.0%.


Author: Massimo Bassetti, Economist

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Italy Industry Chart


Italy Industry June 2019

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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