Industrial production in Italy increased by 0.2% m/m in August

The seasonally adjusted index of industrial production in Italy in August 2023 increased by 0.2% compared to the previous month. This is evidenced by the data of the Italian statistical office Istat.

The unadjusted index of industrial production in Italy decreased by 4.1% compared to August 2022. The seasonally adjusted indicator decreased by 4.2% compared to August 2022.

During June-August 2023, industrial production in Italy increased by 0.4% compared to March-May 2023.

The index measures monthly changes in industrial production, excluding construction.

Production in the construction industry of Italy in August 2023 grew by 2.1% m/m. Compared to August 2022, the indicator decreased by 0.3%. During June-August, the indicator increased by 2.1% compared to March-May. At the same time, for January-August, the seasonally adjusted index of production in the construction industry in Italy decreased by 2.1%, and the unadjusted index – by 2.2%.

As GMK Center reported earlier, industrial production in the Eurozone and the European Union adjusted for seasonal changes in August 2023 increased by 0.6% compared to the previous month. Compared to August 2022, industrial production in the Eurozone fell by 5.1%, in the EU – by 4.4%. Among EU member states, the highest monthly increase in industrial production in August was recorded in Ireland (+6.1%), Slovakia (+4.5%) and Lithuania (+3.7%).

Also, inflation in eurozone in September 2023 increased by 4.3% y/y slowing down from 5.2% in August. Thus, inflation in Europe updated the minimum since October 2021.