Italy: Industrial production rebounds strongly in August
Industrial output jumped 1.7% in August on a month-on-month, seasonally-adjusted basis, contrasting July’s revised 1.6% decrease (previously reported: -1.8% month-on-month). August’s rebound came on the back of notable turnarounds in the manufacturing, and electricity, gas, steam and air conditioning sectors. In contrast, output in the mining and quarrying sector continued to dip. Within the manufacturing sector, the production of coke and refined petroleum products, and of electrical equipment, posted the sharpest increases.
On an annual basis, industrial production decreased 0.8% in August. While a softer fall than July’s 1.3% drop, it was the second consecutive month of contraction. Meanwhile, annual average growth in industrial output declined to an over one-year low of 2.5% in August, from 3.1% in July.