Istat, industrial production at +0.1% in February

In February 2024, industrial production increased by 0.1% compared to the previous month. This was reported by Istat. On average in the December-February quarter there was a drop in the level of production of 0.7% compared to the previous three months. On an annual basis, industrial production recorded a decline of 3.1%. As specified by Istat, the monthly seasonally adjusted index shows a sustained economic increase for capital goods (+3.5%) and substantial stationarity for intermediate goods (+0.1%); vice versa, declines are observed for consumer goods (-0.8%) and energy (-2.0%).

On an annual basis, in particular there was an increase only for capital goods (+1.7%); However, intermediate goods fell (-2.1%) and, to a greater extent, energy (-4.2%) and consumer goods (-5.3%). The sectors of economic activity which recorded the greatest trend increases were the manufacturing of coke and refined petroleum products (+17.2%), other manufacturing industries (+2.5%) and the manufacturing of electrical equipment (+1.7 %). The largest declines were recorded in the textile, clothing, leather and accessories industries (-11.7%), in the supply of electricity, gas, steam and air (-10.8%) and in the manufacturing of rubber articles and raw materials. plastics (-4.9%).

«In February, seasonally adjusted industrial production grew slightly compared to January, while on average over the last three months it recorded a decline compared to the previous three months. In trend terms, net of calendar effects, the overall index continues the phase of decline that has continued for 13 months. The drop on an annual basis in February concerns all the main industrial groups, except for capital goods”, is the comment from Istat on the data on industrial production for February.