Italian industrial production is still falling. According to the latest Istat data, in June the decline was 0,4% on month and 1% on year, the worst decline since the beginning of 2015 (both according to the raw index and the one adjusted for calendar effects) .
In the six months, production recorded an increase of 1,5% yoy based on the raw index, equal to +0,8% adjusted for calendar effects.
On average in the April-June quarter, production recorded a drop of 0,4% on the previous quarter, which instead had reported an increase of the same amount again on a cyclical basis.
The seasonally adjusted monthly index for June shows negative cyclical changes in the groupings of intermediate goods (-1,1%), consumption (-1%) and energy (-0,7%). No change for the capital goods sector.
In trend terms, the indices corrected for calendar effects recorded only one increase in the intermediate goods sector (+0,8%). Conversely, energy (-5,5%), consumer goods (-2,1%) and instrumental goods (-0,3%) decreased.
As regards the sectors of economic activity, the sectors that recorded the greatest trend growth are the manufacture of computers, electronics and optics, electro-medical equipment, measuring equipment and watches (+2,3%), metallurgy, excluding machinery and plants (+ 1,4%) and chemicals (+0,8%).
The greatest decreases are recorded in mining (-19,2%), basic pharmaceutical products and pharmaceutical preparations (-7%) and coke and refined petroleum products (-4,8%).
