Sudden braking for the industrial production. Deflation in 15 cities … – The Press

Sudden braking for the industrial production. Deflation in 15 cities … – The Press

No sign of recovery. In July, the industrial production index fell 1% compared to June. On average for the quarter from May to July, the sector contracted by 0.8% compared to the quarter precedente.E ‘a sudden stop, that certified by Istat, especially when compared to the same period of 2013, in which case the decrease is even larger, amounting to 1.8%. One thing that worries because the photograph of price, which confirm preliminary estimates: Italy is deflation, for the first time since 1959 and the major cities where prices are below zero are now 15 A list that is stretching and includes power, Reggio Emilia and Padova (-0.1%); Rome, Perugia, Bologna and Genoa (-0.2%); Bari, Trieste, Florence and Milan (-0.3%); Livorno (-0.5%); Turin (-0.6%); Verona (-0.7%); and Venice (-0.8%). The report of bad news is not over: in July, the Italian government debt is at record levels of 2.1686 trillion euro, 0.2 billion more than the previous peak in June.

Down consumer goods and energy

Returning to the industry, the statistics institute said that, last month, decreased consumer goods (-2.4%), capital goods (-2.1%) and, to a lesser extent, energy (-0.8%) and intermediate goods (-0.6% ). Turning our attention to the last 12 months, the gap widens: the energy flexing of 3.9%, 1.9% intermediate goods, capital goods and consumer goods 1.6% 1.2 % In short, the situation, as pointed out yesterday by the European Commission, is stagnant in the average of the first seven months of production remained unchanged compared to the same period last year.

The scars of the recession

Rome, according to the report on the competitiveness of Brussels, pays an inefficient public administration, a civil justice slow – but the EU underlines the reform on the launching pad – and the difficulties of access to credit for SMEs. There is also a problem of inefficiency because if the investment rate is comparable to that of the countries that run the effect is minor? A fundamental reason for the modest growth – says the report – to be found in the reforms of the labor market, which had as its main objective the flexibility neglecting the opportunity to address the rigidity of the mechanism of wage determination. The result is a spiral from the perverse outcomes: since 2000 wages have increased more in sectors where labor productivity has grown less and, in the short term, employment has shifted in areas where the productivity of labor grows slowly. In eight pages that the Commission devotes to our country is not without its strengths: the trade balance, the niches capable of producing positive effects on innovation, the weight of manufacturing that despite the downturn, it remains slightly above the European average .

The openings

In fact, something is moving, certifies the Istat: With regard to the sectors of economic activity in July , the sectors that have the highest trend growth are the manufacture of computer, electronic and optical products, electrical appliances, watches and measuring equipment (+4.8%), manufacture of basic pharmaceutical products and pharmaceutical preparations (+ 3.0%) and manufacture of transport equipment (+2.9%). A collapse, however, in the field of manufacture of electrical and non-electrical equipment for domestic use (-13.9%), manufacture of coke and refined petroleum products (-10.1%) and mining activity (-7 , 8%).