Industrial production in free fall also in April. After -28,4% recorded in March, the seasonally adjusted index of industrial production fell by 19,1% the following month. Istat estimates it, underlining that on an annual basis the collapse even arrives to 42,5% (data corrected for calendar effects).
“In April, the measures to contain the Covid-19 epidemic determined the forced shutdown of many sectors for the entire month, with significant negative effects on production levels”, comments the Institute.
The seasonally adjusted index for April shows a very slight increase only for energy (+0,7%) while the declines are double-digit for intermediate goods (-24,6%), capital goods (-21,8% ) and, to a lesser extent, consumer goods (-14,0%).
Looking at data for individual industry sectors, the picture is bleak, with all major sectors recording trend declines. On an annual basis a driving the collapse are above all the textile, clothing, leather and accessories industries (-80,5%), and the car, with the manufacture of means of transport marking -74%. Other industries (-57,0%) and the manufacture of rubber and plastic materials (-56,3%) also fell sharply.
However, the damages were limited by the pharmaceutical (-6,7%) and food (-8,1%) sectors.
Istat estimates on industrial production weigh on Piazza Affari, already weighed down like the other EU stock exchanges by the Fed's decisions on rates and by the news on infections in the USA. At 11.30 the Ftse Mib dropped 2,7%, falling to 19.216 points. At the bottom of the list are the stocks of the Agnelli family, with Cnh losing more than 7% and FCA dropping by almost 6%. A few hours after the quarterly report, Atlantia is also in the red (-5,74%).
