The decline in industrial production does not stop. In July, the related seasonally adjusted index decreased by 1,1% compared to the previous month. The data is from Istat. In trend terms, corrected for calendar effects (there were 23 working days against 22 in July 2012), the index decreased by 4,3%. This is the 23rd consecutive trend decline.
On average for the first seven months of the year, production fell by 4% compared to the same period last year. On average for the May-July quarter, the index recorded a decrease of 0,5% compared to the previous three months.
In July 2013, continues Istat, the seasonally adjusted index recorded a positive cyclical change only in the energy sector (+1,7%). On the other hand, the groupings of capital goods (-3,1%), intermediate goods (-1,1%) and, to a lesser extent, consumer goods (-0,3%) show negative changes.
In manufacturing, the only cyclical increases were recorded for the sectors of the textile, clothing, leather and accessories industries (+4,4%) and the manufacture of coke and refined petroleum products (+2,2%).
The indices adjusted for calendar effects show, in July 2013, trend decreases in all the main groupings of industries. Energy (-7,1%) and capital goods (-6,6%) fell significantly, while consumer goods (-3,7%) and intermediate goods (-2,1%) recorded a more limited decline %).
As regards the trend dynamics of the sectors of economic activity, in July 2013 the only growing sector is that of the textile, clothing, leather and accessories industries (+2,3%). The largest decreases were recorded for the sectors of the wood, paper and printing industry (-11,1%), the manufacture of coke and refined petroleum products (-10,6%) and the manufacture of means of transport (- 8,4%).
