The Confindustria study center estimates an increase in industrial production of 0,4% in September over August. This was communicated by the CSC after today Istat communicated that in August there was a drop of 0,3% on July.
In September the distance from the pre-crisis activity peak (April 25,3) stands at -2008%. In the third quarter of 2013 a contraction of production of 0,9% on the previous one is estimated, which follows the heavy -1% that was recorded in the second quarter on the first. The fourth quarter inherits a +0,2% cyclical change from the third.
The Istat data for August, is the comment of the study center, “was affected by the decline in the energy sector, without which the change would have been null. The breakdown by type of goods produced reveals important signals consistent with the early stages of recovery: consumer goods +2,2% durables (+8,9%); intermediate goods +1,3%; capital goods +0,1%”.
The qualitative data collected from manufacturing companies, continues the CSC, “are very positive and indicate stronger progress in industrial activity in the autumn. In September, three-month expectations on production and assessments on order books improved. According to purchasing managers (Markit survey), industrial activity increased in September: the relative component of the manufacturing PMI stood at 52,9 (from 54,4), above the neutrality threshold of 50 for the fourth consecutive month".
