Italy: Industrial production slumps in September
November 10, 2020
Industrial output fell 5.6% in September on a month-on-month, seasonally-adjusted basis. The reading contrasted August’s 7.4% expansion and marked the first drop following four consecutive months of increases.
September’s decline reflected downturns in the manufacturing, mining and quarrying and utilities sectors. Within the all-important manufacturing sector, the largest decreases were recorded in the production of textiles and transport.
On an annual basis, industrial production contracted 5.1% in September in calendar-adjusted terms, following August’s 0.3% dip. Meanwhile, the annual average variation in industrial production deteriorated from minus 10.6% in August to minus 10.8% in September.