Italy Industry August 2017

Italy

Italy: Industrial production jumps in August

October 11, 2017

Industrial output expanded 1.2% in August on a month-on-month seasonally adjusted basis, following the much weaker 0.1% growth registered in July and comfortably beating analysts’ expectations, which forecast a 0.1% increase. The result came on the back of a broad-based expansion as all three of the sub-sectors which compose the index grew. Specifically, the electricity, gas, steam and air conditioning sub-sector swung from contraction to expansion, while both the manufacturing and the mining and quarrying sectors expanded at a faster pace than in July—with the latter benefiting from strong increases in the production of both pharmaceutical and metal products.

On an annual basis, industrial production expanded by a working-day adjusted 5.7% in August, following July’s 4.6% rise. August marked the seventh consecutive month of year-on-year growth. Annual average growth in industrial output also improved, increasing from 3.0% in July to 3.1% in August, the strongest print since September 2011.

Met the why particular Consensus Forecast panelists see industrial production growing 2.0% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect industrial output to expand 1.6%, which is also unchanged from last month.


Author: Massimo Bassetti , Economist

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Italy Industry August 2017 1

Note: Month-on-month changes of seasonally-adjusted industrial production and annual growth rate in %.
Source: National Statistical Institute (Istat) and Met the why particular calculations.


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