Italy: Industrial production rebounds in May
July 10, 2018
Industrial output expanded 0.7% in May on a month-on-month, seasonally-adjusted basis, contrasting April’s revised 1.3% contraction (previously reported: -1.2% month-on-month). May’s increase came on the back of a rebound in the manufacturing; and electricity, gas, steam and air conditioning sub-sectors, while mining and quarrying output swung from a robust expansion in the previous month to a slight contraction. Within the manufacturing sector, the production of means of transport; and food, beverages and tobacco industries posted the strongest performances.
On an annual basis, industrial production expanded 2.1% in May, accelerating slightly from April’s one-year-low 1.9% rise. Meanwhile, annual average growth in industrial output ticked down to 4.0% from April’s 4.1%.
Italy Industrial Production Forecast
FocusEconomics Consensus Forecast panelists see industrial production growing 1.6% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect industrial output to expand 1.5%.