Italy industrial production index expands by 8.2 pct in June: ISTAT

Source: Xinhua| 2020-08-06 22:11:54|Editor: huaxia

ROME, Aug. 6 (Xinhua) -- Italy's seasonally-adjusted industrial production index rose by 8.2 percent in June compared to May, the country's National Statistics Institute (ISTAT) reported on Thursday.

This follows what ISTAT analysts called an "exceptional" 41.6-percent expansion in May compared to April.

The increase occurred across all sectors, with the production of consumer goods up 9.8 percent, intermediate goods up 9 percent, capital goods up 8.1 percent, and energy up 2.1 percent, ISTAT reported.

However the industrial production index dropped by 17.5 percent in the second quarter compared to the first quarter of the year, ISTAT said.

As well, the calendar-adjusted industrial production index fell by 13.7 percent in June 2020 compared to June 2019, with "strong contractions" across all sectors including capital goods down 16.2 percent, intermediate goods down 15.7 percent, consumer goods down 11.4 percent, and energy down 6.2 percent.

Specifically, the textile, clothing, leather, and accessories industrial production index shrank by 26.7 percent and transportation vehicle manufacturing dropped by 26.4 percent, ISTAT pointed out.

The only sector that bucked the trend on a yearly basis was mining with a rise of 1.5 percent, according to the ISTAT report.

"The industrial production recovery is ongoing," ISTAT analysts wrote. "However... the levels of production are still distant from those that were prevalent before the measures linked to the (COVID-19) health emergency."

According to the analysts, Italy's June industrial production index was still "more than 13 percentage points" less compared with January, the month before the outbreak of the COVID-19 pandemic. Enditem

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