Italy Industry

Italy

Italy: Industry deteriorates in July

September 12, 2014

In July, industrial output fell a seasonally-adjusted 1.0% over the previous month, which contrasted the 0.8% increase tallied in June. July’s reading came in below the 0.2% increase the markets had expected. The result reflected a contraction in electricity, gas, steam and air conditioning as well as in manufacturing. Conversely, production in mining and quarrying rebounded in July.

On an annual basis, industrial output fell a working-day adjusted 1.8%, which contrasted the 0.3% increase recorded in June and marked the fastest contraction in 10 months. Meanwhile, annual average growth in industrial output stepped up from minus 0.9% in June to minus 0.7% in July, thus reaching the highest level since February 2012.

FocusEconomics Consensus Forecast panelists see industrial production contracting 1.3% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, panelists expect industrial output to expand 2.2%.


Author:, Senior Economist

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Italy Industry Chart


Italy Industry July 2014

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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