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Italy industrial output up 42.1 percent in May

Christian Fernsby ▼ | July 11, 2020
Italy's seasonally adjusted industrial output increased by 42.1 percent in May compared to April this year, ISTAT national statistics bureau reported Friday.
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"After the significant decline in April, when many productive sectors were shut down following measures connected with the health emergency, in May we are seeing a significant resumption of activity," ISTAT analysts wrote.

Topics: Italy

Italy's industrial output fell 42.5 percent in April compared to the same month last year and dropped 19.1 percent compared to March.

The coronavirus lockdown measures "determined the enforced closure of the activities of many sectors for the whole month, with significant negative effects on productive levels," explained ISTAT analysts.

ISTAT said that all sectors posted month-on-month growth in May, including capital goods (+65.8 percent), intermediate goods (+48 percent), consumer goods (+30.8 percent), and energy (3.4 percent).

However, the average industrial output dropped by 29.9 percent in March-May compared to the preceding three months, and down by 20.3 percent in May compared to May 2019, ISTAT added.

The year-on-year deceleration spread across all major industrial sectors, with transportation vehicle manufacturing down by 37.3 percent, textiles, apparel, leather and accessories losing 34.1 percent, rubber, and plastic products down by 24.8 percent, pharmaceuticals decreasing by 4.2 percent and energy down by 5.2 percent, ISTAT said.