Italy: industrial production falls. The recession knocks

Italian industrial production is starting to show signs of an expected slowdown, caused by energy costs, a drop in consumption and a non-positive global trend. As Istat announces, in October 2022 the seasonally adjusted index of industrial production decreased by 1.0% compared to the previous month. previous month. The change in the average of the last three months compared to the previous three months was +0.3%.
The industrial production index adjusted for calendar effects decreased by 1.6% compared to October 2021. (Working days of October 2022 are the same as October 2021). The unadjusted industrial production index decreased by 1.6% compared to October 2021. Here are the related graphs, starting with industrial production:

Here is the monthly marginal pattern of industrial production growth:

Obviously there are sectors that are more affected by it and others that are less affected by it, and this is very indicative of what is happening

First of all, the supply of electricity is declining: high energy costs are pushing private individuals to reduce consumption as far as possible. The drop is also significant in an energy-intensive sector such as paper mills and chemicals. Lighter manufacturing, on the other hand, is growing. So there are sectors that are more sensitive to energy and others less so, but this is almost obvious. However, sooner or later, all manufacturing will suffer from high energy costs. After all, it cannot be produced without energy.

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The article Italy: industrial production falls. The knocking recession comes from Economic Scenarios .

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This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/italia-cala-la-produzione-industriale-la-recessione-bussa/ on Tue, 13 Dec 2022 10:55:08 +0000.