Industrial production recorded a new deterioration in June, down 0.4% on a cyclical basis (seasonally adjusted index), and 1% trend, the worst since the beginning of 2015 (both according to the raw index for the correct one for calendar effects, being the same business day of June 2015). In six months, production was up 1.5% on a trend based on the index crude (+ 0.8% the correct data for calendar effects). The notes Istat. On average in April-June quarter, production recorded a 0.4% decline compared to the previous quarter, which however had reported an increase of more entities on a cyclical basis. The seasonally adjusted monthly index shows negative changes in the groupings of intermediate goods (-1.1%), consumer (-1%) and energy (-0.7%); no change for the capital goods. In trend terms the correct indexes for calendar effects recorded an increase only in intermediate goods (+ 0.8%); decrease the energy (-5.5%), consumer goods (-2.1%) and business (-0.3%).
As for the sectors of economic activity, sectors that recorded the highest trend growth are: manufacture of computer, electronic and optical, medical equipment, measuring equipment and watches (+ 2.3%), metallurgy, except machinery and equipment (+ 1.4%) and chemicals ( + 0.8%). The largest decreases are recorded in mining (-19.2%), basic pharmaceutical products and pharmaceutical preparations (-7%) and coke and refined petroleum products (-4.8%).
the economy slows down, but less in recent months
in the monthly note of widespread scenery Istat the composite leading indicator for the Italian economy showed “drop further, albeit more moderate intensity compared with declines of recent months. ” In a situation “characterized by a continued decline in international trade and the US economy grew in the second quarter, the euro area recorded a slowdown in production rates. In Italian manufacturing firms reported a decrease in activity levels while employment continued to expand and deflationary trends have eased. ” The composite index of confidence of Italian companies has marked an increase in July, “driven primarily by improvements for construction companies and for those services,” says the Mayor.
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