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Italy Industry

Italy Industry

Industrial Production in Italy

The Italian economy recorded average industrial production growth of 0.4% in the decade to 2022, below the 1.1% average for the Euro Area. In 2022, industrial production growth was 0.4%. For more information on industry, visit our dedicated page

Italy Industry Chart

Note: This chart displays Industrial Production (annual variation in %) for Italy from 2014 to 2023.
Source: ISTAT.

Italy Industry Data

2018 2019 2020 2021 2022
Industrial Production (ann. var. %) 0.9 -1.2 -11.0 11.7 0.4

Industrial output rebounds in December

Industrial output increased 1.1% in month-on-month seasonally adjusted terms in December, which contrasted November's 1.3% decrease. December's figure marked the best reading since May. The reading reflected a broad-based upturn, with activity in the manufacturing, mining and quarrying and electricity, gas, steam and air conditioning sub-sectors all improving in December. On an annual basis, industrial output decreased 2.2% in December, easing from November’s 2.6% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.5% in December, down from November's minus 2.4%.

Commenting on the release, ING’s Paolo Pizzoli stated: “In an unsurprising rebound for Italian industrial production in December, the full breakdown signalled that the tide could soon start to turn for energy-intensive sectors. For the time being, Suez Canal disruptions and soft demand conditions are limiting the scope for a production acceleration over the first quarter.”

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Italian industry projections for the next ten years from a panel of 10 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Italian industry.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Italian industry projections.

Want to get access to the full dataset of Italian industry forecasts? Send an email to info@focus-economics.com.

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