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August Sees Industrial Production Decline in Italy
9 Oct
Summary
- Industrial production index fell 1.3% in August from July.
- Year-on-year output remained unchanged due to more working days.
- Only the energy sector showed a monthly increase in production.
In August, Italy's industrial production index saw a monthly decrease of 1.3%. This figure reflects a seasonally adjusted decline compared to July's performance. When adjusted for calendar effects, industrial output remained unchanged year-on-year. This stability is attributed to there being 21 working days in August 2024, compared to 20 in August 2023.
Examining the main industrial groupings, a varied trend emerged. Only the energy sector demonstrated positive growth on a monthly basis. Conversely, all other sectors experienced a decline in their production levels during August.
Looking at a broader period, the average industrial production from June to August fell by 1.1% when compared to the preceding three months. This indicates a continued downward trend in overall industrial activity.
