Istat: recovery in industry turnover, + 8.1% in July, and orders recover 3.7%

• Istat: industrial production in July + 7.4% on the month, but -8% on the year

• Istat confirms the recovery after the lockdown.

  But for the Italian industry it is still deep red

• Istat: Italy's GDP -12.8% in the second quarter, never so down since 1995

• Jobs: Istat, after four months of decline, employment returns to grow: + 0.4%.

• Istat: signs of recovery from May, better exports and manufacturing

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September 18, 2020 "

". Istat recorded an 8.1% increase in July compared to June, net of seasonal factors, in the third month of recovery. Year-on-year, there is a similarly large decline (-8.1%) in the data adjusted for calendar effects.   

The overall growth recorded in the last three months of 11.1% compared to the previous three "reduces the gap compared to the levels prior to the adoption of the measures to contain the pandemic, which, however, still remains large (-7.7% compared to February ) ", notes the institute.

The cyclical change in turnover reflects positive results recorded on the domestic market (+ 9%) and abroad (+ 6.5%). For orders, on the other hand, the growth is sustained above all by orders from the foreign market, which mark an increase of 7.4%, while the increase in those from the domestic market stands at a modest + 1.3%.   

With reference to the main groupings of industries, in July there are cyclical increases in turnover widespread in all sectors, very large for energy and capital goods (respectively + 21.8% and + 20.6%) and more contained for intermediate goods and consumer goods (respectively + 3.1% and + 1.6%).   

On an annual basis, turnover decreased by 6.3% for the domestic market and 11.4% for the foreign one. The mining sector is the only one that records a positive change (+ 7.1%). In manufacturing, on the other hand, the computer and electronics sector remained almost stable (-0.1%), while for all the others Istat recorded negative results, from the 1.0% decline in the electrical equipment industry and not, up to the much larger drops in the textile and clothing industry (-21.1%) and oil refineries (-32.2%). 

Orders in July grow by 3.7% and on average in the last three months recover 14.8% compared to the previous three months, according to Istat data . Compared to the previous year, there is a 7.2% decline in the raw index, with reductions on both markets (-7% the domestic one and -7.4% the foreign one).   

"All sectors recorded negative results, from the 1% drop in the machinery and equipment industry and electrical and non-electrical equipment, to much more marked decreases in the computer and electronics industry (-15.6% ) and of textiles and clothing (-17.8%) ", reads the flash statistics.