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Industrial output down 1.3% in Italy

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Christian Fernsby ▼ | February 11, 2020
Italian industrial output fell 1.3% in 2019, the worst result in six years, ISTAT said yesterday.
Italy construction
Economy in Italy   Italy construction
It was the first fall since 2014 and the sharpest since 2013, the stats agency said.

Topics: Industrial Italy

The 1.3% 2019 loss compared to a 0.6% gain the previous year, 2018, ISTAT said.

Industrial production fell 2.7% in December in month-on-month terms, and by 4.3% in year-on-year terms.

The monthly drop was the biggest since January 2018, ISTAT said.

The yearly drop was adjusted to take into account the effects of the calendar.

ISTAT said the year-on year drop in December may have been partly due to the long weekend around December 27.

Industrial production fell 1.4% in the last quarter of last year, ISTAT said, the biggest drop since 2012.

This followed falls in the second and third auwter of 2018, it said.

The sector was, therefore, suffering a recession, the stats agency said.

Motor vehicle production was 13.9% down last year, ISTAT said.

The Italian economy is slowly emerging from a triple dip recession.

Italy's GDP fell 0.3% in the last quarter of last year compared to the third quarter while it remained steady over the year, ISTAT said.

The quarter on quarter fall was the biggest since the first quarter of 2013, that is almost seven years.

The stats agency issued preliminary estimates.

The third quarter of 2019 had shown a rise of 0.1% quarter on quarter and a gain of 0.5% year-on-year.

The government says the 2020 budget will spur growth.

Economy Minister Roberto Gualtieri said the government is hoping for a rise in GDP in the first quarter.