timid signs of recovery for the Italian industrial production, which in August to grow back on a monthly basis, however, recording a decline on an annual basis. The data released today by ISTAT is however lower than analysts’ expectations.
In particular, the production index increased by 0 3% compared to July (consensus +0.5%), while the average for the June-August quarter decreased 0.3% from the previous quarter. Adjusted for calendar effects, in August 2014, the index declined 0.7% on an annual basis (working days were 20 against 21 August 2013) against the 0.2% expected by the market.
The average of the first eight months of the year, production fell by 0.1% compared to the same period last year.
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Industrial production, albeit increasing, disappoints analysts
On a monthly basis they did well consumer goods (+2.3%), capital goods (+1.6 %) and intermediate goods (0.2%); marks instead of a negative change in the energy sector (-0.3%). On-year, however, has increased the production of consumer goods (+2.3%) and capital goods (1.7%); decrease the funds instead of Energy (-2.6%) and intermediate goods (-2.2%).
As for the sectors of economic activity, in August 2014, the sectors that have the highest trend growth are the production of basic pharmaceutical products and pharmaceutical preparations (+ 14.9%), manufacture of transport equipment (+9 , 6%) and manufacture of computer, electronic and optical products, electrical appliances, watches and measuring equipment (+9.5%). The largest decreases are recorded in the fields of manufacture of electrical and non-electrical equipment for domestic use (-13.6%), the mining (-6.0%) and the manufacture of coke and refined petroleum products (-5 , 7%).
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