Italy's industrial production worsens in April: ISTAT

  • World
  • Saturday, 10 Jun 2023

ROME, June 9 (Xinhua) -- Industrial production in Italy declined 7.2 percent over the 12-month period ending in April, the country's National Institute of Statistics (ISTAT) reported on Friday. It was the largest single drop in nearly three years.

The seasonally adjusted industrial production index declined by 1.9 percent from March to April. Between February and April, industrial production was 1.3 percent below the previous three-month period.

The last time industrial production declined so dramatically year-on-year was in 2020, at the start of the COVID-19-related lockdown.

ISTAT said that contributing to the year-on-year decline were the production of energy-related goods (12.6 percent); intermediate goods (11.0 percent); and consumer goods (7.3 percent). Wood and paper production declined by 17.2 percent compared to a year earlier, and the drop in chemical and metal production was 10.9 percent.

The only major sectors that recorded a year-on-year increase were those of transportation-related products (5.7 percent); refined petroleum products (2.1 percent); and basic pharmaceutical products (0.6 percent).

April was the fourth consecutive month that saw Italy's industrial production decline year-on-year.

Energy prices in Italy have surged since the start of the conflict between Russia and Ukraine, adding to the cost of industrial processes.

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