• Istat: Italy GDP, third quarter + 0.1%: annual + 0.3%
  • Work, Istat: in three months lost 60 thousand employees

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11 November 2019Industrial production in September fell by 0.4% on August and by 2.1% on the same month in 2018. Istat announced this, with the correct figure for calendar effects. Istat points out that the September trend decline (-2.1% corrected for calendar effects with 21 working days compared to 20 in September 2018) is the seventh consecutive trend decline.

In the average of the third quarter, production shows a downturn of 0.5%. In the average of the first nine months of the year the index registered a tendential downturn of 1%. .In September There was an increase in the cyclical production of consumer goods by 0.7% and of capital goods by 0.6%, while for intermediate goods and for energy there was a decrease in production respectively of 1% and 1.1%. On an annual basis, the 2.1% drop in industrial production is the result of a 1.2% increase in consumer goods and a 2% drop in capital goods, 5.2% for goods intermediate and 0.1% for energy.

Car in deep red: in September -12.6%
The strong setback for the production of vehicles continues: according to Istat data, in September the correct figure for calendar effects reports a tendential decrease, that is compared to September 2018, of 12.6% (-10 , 6% raw data). The decline is very substantial even if lower than in August compared to August 2018 (-20.6%). Between January and September 2019, compared to the same period in 2018, the decline was 14.8% (between January and October, it was 15.1%). In September, the seasonally adjusted data shows instead a 2.8% drop compared to August. In the July-September quarter, compared to the previous quarter April-June, the decline was 4.6%.

Federconsumatori: urgent measures for recovery
The Italian economy urgently needs measures for recovery. This was stated by Federconsumatori, commenting on the industrial production data released by Istat. According to Federconsumatori, it is necessary "to implement measures to support the purchasing power of families and plans for relaunching employment". "Families are awaiting - says a note - measures that can positively affect their purchasing power: first of all, the cutting of the tax wedge and the child bonus. This is why it is urgent to make them operational as soon as possible, to act positively in the direction of of a recovery in domestic demand ".