Industry in Italy
Italy - Industry
Industrial production shrinks in November
Industrial output decreased 1.4% in November on a month-on-month, seasonally-adjusted basis. The reading contrasted October’s 1.4% rise.
November’s drop reflected a downturn in the manufacturing sector as well as a sharper contraction in the utilities sector which more than offset an improvement in the mining and quarrying sector. Within the all-important manufacturing sector, the largest fall were recorded in the production of textiles.
On an annual basis, industrial production contracted 4.2% in November in calendar-adjusted terms, following October’s less pronounced 1.9% drop. Meanwhile, the annual average variation in industrial production deteriorated from October’s minus 10.8% to minus 11.1% in November.
Commenting on the release, Paolo Pizzoli, senior economist at ING, stated:
“The outlook for December 2020 does not look bright: widespread containment measures in the main European trading partners likely weighed on export flows and, as a consequence, on Italian production. We believe that in 4Q20, the Italian industrial sector was not strong enough to prevent a service sector driven quarterly contraction in GDP in 4Q20. As we suspect that the risks of longer-lasting containment measures are on the rise, both domestically and in the main trading partners, we anticipate a quarterly GDP contraction in 1Q21. Not the best environment for a possible government crisis.”
FocusEconomics Consensus Forecast panelists are still assessing the latest developments.
Italy - Industry Data
|Industrial Production (annual variation in %)||1.1||1.9||3.6||0.7||-1.0|
5 years of economic forecasts for more than 30 economic indicators.
Italy Industry Chart
Source: National Statistical Institute (ISTAT) and FocusEconomics calculations.
|Bond Yield||1.31||-0.40 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
January 13, 2021
Industrial output decreased 1.4% in November on a month-on-month, seasonally-adjusted basis.
January 7, 2021
Consumer prices increased 0.3% month-on-month in December, contrasting November’s 0.1% decrease.
January 4, 2021
The National Institute of Statistics (Istat)’s composite business confidence indicator (Clima di Fiducia delle Imprese Italiane, IESE)—which covers the manufacturing, construction, market services and retail sectors—rose from 83.3 in November to 87.7 in December. The increase was driven by an improvement in sentiment in the manufacturing and market services sectors more than offsetting falling sentiment in the construction and retail trade sectors.
January 4, 2021
The consumer confidence index rose to 102.4 in December from 98.4 in November. December’s strengthening was broad based.
January 4, 2021
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose to 52.8 in December from 51.5 in November.