Italy, industrial production stopped in March – Milano Finanza

In March the Italian industrial production marks no change compared to February, while an increase in trend terms by 0.5%. The precise Istat that on average in the January-March quarter production increased by 0.7% from the previous quarter. While over the same period last year increased by 1.6%.

The seasonally adjusted monthly index has a single positive quarterly change in the energy sector (+ 1.2%); decrease, however, capital goods (-1.6%), intermediate goods (-1.2%) and consumer goods (-0.7%).

In trend terms the correct indexes adjusted for calendar effects recorded in March, only one increase in pool of capital goods (+ 4.3%); mark on the contrary decreases energy (-2.8%), consumer goods (-2.2%) and, to a lesser extent, intermediate goods (-0.3%).

as for the sectors of economic activity in March sectors which have the highest trend growth are those from the manufacture of machinery and equipment nec (7.3%), manufacture of transport equipment (+ 1.9%) and other manufacturing, repair and installation of machinery and equipment (+1.6%).

the largest decreases are recorded in the production of basic pharmaceutical products and pharmaceutical preparations (-6.5 %), of manufacture of textiles, clothing, leather and accessories (-6.0%) and supply of electricity, gas, steam and air (-2.4%).

This time the industrial production Italian has held up better than the French and German. Industrial production in France is in fact set back by 0.3% per month in March, despite the rebound in energy, water and mining sector. Clearly disappointed the consensus of economists is rather expected an increase of 0.5%.

In Germany, industrial production fell by 1.3% against an expected monthly seasonally adjusted -0.2%. In February, industrial production was down by 0.7% (since revised from -0.5%). This, however, gave no undermines expectations for economic growth of the country in the first quarter.

All in all, the figures on industrial activity in Germany and the numbers on the March trade balance (recorded a surplus of 26 billion euro due to the increase in exports of 1.9%) “are mixed results, but continue to allow to speak of a good performance for the first quarter of the year,” said Greg Fuzesi, economist at JP Morgan. It all leads “to predict an expansion of the country’s GDP by 2.5%” on an annualized basis, precise the expert.