Italy Industry August 2019

Italy

Italy: Industrial production rebounds mildly in August

October 10, 2019

Industrial output rose 0.3% in August on a month-on-month, seasonally-adjusted basis, following July’s revised 0.8% drop (previously reported: -0.7% month-on-month).

August’s upturn largely reflected improving metrics in the all-important manufacturing sector. Manufacturing output contracted at a much softer pace than in the previous month in August, amid healthy growth in the manufacture of machinery and equipment, wood and paper products, and rubber and rubber products. On top of that, production of electricity, gas, steam and air conditioning continued to expand in August. On a less positive note, mining and quarrying output slid in August following a short-lived rebound in July.

On an annual basis, industrial production shrank 1.8% in August in calendar-adjusted terms, following July’s 0.7% drop. Meanwhile, annual average growth in industrial output was unchanged at the previous month’s minus 1.1% in August.

FocusEconomics Consensus Forecast panelists see industrial production dropping 0.4 % in 2020, which is unchanged from last month’s forecast. For 2021, panelists expect industrial output to expand 0.9%.


Author:, Economist

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Italy Industry August 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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