Economy News

Italy: Industrial production falls by 1.5% in May


May marked a pause in the recovery of Italy industrial production.

italy industrial production

Monthly, industrial production has dropped by 1.5% in Italy since May. This marks a halt after five consecutive monthly increases, said Friday the National Institute of Statistics.

The industrial production index increased 1.8% in April, following gains of 0.3% in March and 0.1% in February. In May, it reached 102.4, up from 104.5 the previous month and higher than the pre-pandemic level recorded in February (103.3).

Due to measures taken to curb the Coronavirus pandemic, industrial production decreased by 11.4% in 2020, the worst decline since the debt crisis in 2009.

Energy (-5.2%) and capital goods (-1.8%) recorded the most significant declines from April. Both consumer goods and intermediate goods decreased by 0.8%.

Industrial production increased by 21.1% in calendar-adjusted data compared to May 2020. In March and April 2020, Italy, the first country affected by the health crisis in Europe, imposed a strict lockdown, paralyzing a large part of its economy. In April 2020, industrial production fell by 21.3%.

The pandemic severely impacted the Italian economy last year, with a drop in GDP of 8.9%. Compared to the previous quarter, the Italian gross domestic product (GDP) increased by 0.1% in the first quarter, and the government hopes for growth close to 2% in the second quarter.

Rome anticipates a 5% GDP growth for 2021 as a whole.

For MetaNews.


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Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

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