After three months of growth, industrial production in Italy fell again in May, with a 1.1% gain compared to April, the National Institute of Statistics (Istat) said on Friday. In March-May, however, the industrial output increased by 2.3% on average compared to the previous three months. Major industrial sectors declined for the month, including energy (-3.9%), consumer staples (-0.7%) and intermediate goods (-0.6%). Only capital goods increased in price by 0.4%.
The index stood at 106.7 in May, a level that remains higher than it was before the start of the Covid-19 pandemic in February 2020. Industrial production rose 1.4% month-on-month in April, after rising 0.2% in March and April. % in February. Compared to May 2021, industrial production increased by 3.4% in calendar-adjusted data.
Faced with rising energy prices and the impact of the war in Ukraine, Rome revised its growth forecast for 2022 downward in February, now expecting GDP growth of 3.1 percent, down from 4.7 percent previously. After growth limited to 0.1% in the first quarter, the Ministry of Economy forecasts for the second quarter.Stable GDP growthwhich should allow, according to him,achieve or even exceed3.1% target set for the year.
Source: Le Figaro
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