DROP IN ITALIAN INDUSTRIAL PRODUCTION
05/08/2021
Italian industrial production fell by 1.5% in May compared to April. "All the main sectors - explain the Istat analysts - record decreases on a monthly basis, including that of energy. Among the main industry groupings, energy is always the only one to decline on an annual basis ". The trend figure improves, marking an encouraging + 21.1% compared to the same month of 2020, but it should be emphasized how it is influenced by last year's blockade caused by the pandemic. For example, it should be noted that, compared to February 2020, which is the month preceding the onset of the health emergency, in May the index level is 0.8 percent lower. Finally, in the period from March to May, the level of production grew by 1.2% compared to the previous three months. The monthly seasonally adjusted index shows cyclical decreases in all sectors: negative variations characterize energy (-5.2%), capital goods (-1.8%) and, to the same extent, consumer goods and intermediate goods (-0.8%). In May 2021 the overall index increases in trend terms by 21.1% (the calendar working days were 21 against 20 in May 2020). Trend increases were recorded for intermediate goods (+ 28.8%), capital goods (+ 25.2%) and consumer goods (+ 15.8%) while the energy sector slightly decreased (-1.9 %). The sectors of economic activity that recorded the greatest trend increases are the manufacture of rubber and plastic materials (+ 40.1%), the manufacture of means of transport (+ 39.1%) and other manufacturing industries (+35 , 8%). Trend downturns are recorded only in mining activities (-16.2%), in the production of basic pharmaceutical products (-3.6%) and in the supply of electricity, gas, steam and air (-0.3%).
