Italy Industry July 2022

Industrial production rose by a seasonally adjusted 0.4% month-on-month in July (June: -2.0% mom). The figure was partly due to a recovery in manufacturing output. In contrast, mining and quarry production declined.

On an annualized basis, industrial production fell 1.4% in July, stronger than June’s 1.1% decline and the worst result since January. Accordingly, the annual average growth in industrial production fell to 2.3% in July (June: +3.2%) and thus marked a low for more than a year.

FocusEconomics Consensus Forecast panellists expect industrial production to grow 1.6% in 2022, up 0.6 percentage point from last month’s forecast. For 2023, the panellists expect industrial production to grow by 1.6%