The industry is trying to make up for the time lost due to the coronavirus emergency and the consequent closures. Industrial production increased by 42,1% in May compared to April. The Istat detects it.
“After the sharp decline recorded in April, a month characterized by closures in many production sectors following the measures connected with the health emergency, in May there is a significant recovery in activities: all sectors are growing cyclically, with the exception of of the food, beverage and tobacco industries, which recorded a slight decline. The level of production, however, is still affected by the situation generated by the Covid-19 epidemic: the general index, net of seasonality, shows a decrease of 20% compared to the month of January, last period before the health emergency."
Source: Istat
This is the comment of the National Institute of Statistics. On an annual basis, however, the decline is still heavy. Fixed for calendar effects, the overall index decreased by 20,3% compared to May 2019 (there were 20 working days against 22 in May 2019). While on average for the March-May period, the most acute period of the emergency, the level of production fell by 29,9% compared to the previous three months.
As regards the compartments, the first signs of recovery seem to involve almost all sectors. In May capital goods recorded an increase of 65,8%, intermediate goods of 48%, consumer goods (+30,8%). Up, even if with a much less accentuated growth, also energy (+3,4%).
From a trend point of view, the plus signs of May turn into minus again: the decline is less pronounced only for energy (-7,2%), while it is more significant for capital goods (-22,8%), intermediate goods (-22,4%) and consumer goods (-18,7%).
Moving on to singles sectors, all record trend decreases. To pay the highest price are the activities of the manufacturing of means of transport (-37,3%, +140,2% in May), of the textile, clothing, leather and accessories industries (-34,1%, +145,2%, 24,8% in May), the manufacturing of rubber and plastic materials (-75,9%, +4,2% in May); the minor drops, however, are observed in the production of basic pharmaceutical products and pharmaceutical preparations (-3,6%, +5,2% in May) and in the supply of electricity, gas, steam and air (-4,2 %, +XNUMX% in May).
