Industrial production fell in November, with all sectors declining

In November 2023, the seasonally adjusted index of industrial production is expected to fall by 1.5% compared to October and by 3.1% on trend (adjusted for calendar effects with 21 working days as in November 2022). This was announced by Istat, stating that in the September-November quarter there was an average decrease in production levels of 0.8% compared to the previous three months. The monthly index shows cyclical declines in all sectors: -0.2% for capital goods and -1.8% for intermediate and consumer goods, -4% for energy.

Istat indicates that there are tendencies to be positive changes in energy (+1%) and capital goods (+0.6%), while there are declines in consumer goods and intermediate goods (-5.7% in both groupings).

Among economic sectors, the production of coke and refined petroleum products shows a strong trend growth (+13.1%), followed by the production of transport equipment (+2.1%) and the production of machinery and equipment (+0.8%). ). The largest declines are in the wood, paper and printing industries (-12.7%), in the textile, clothing, leather and accessories industries (-9.3%) and in the production of rubber and plastic materials ( -8.5%).

The Real estate market between July and September, on average, it showed some stability: i House prices In economic terms, they remained stable, with different signs between the prices of new houses (+1.6%) and existing houses (-0.4%), against the background of declining sales volumes, whose trend fluctuations over the same period were the same at -10 .4%. In the third quarter, non-financial corporate gross fixed capital formation registered a further cyclical decline (-1.1%), similar to the previous three months (-1.3%).

Market conditions Work they remain solid. In November, the number of employed and unemployed people increased compared to the previous month, while the number of unemployed fell. And in November, in line with the good stability of employment, there was a cyclical increase in retail sales in value and volume (+0.4% and +0.2%, respectively), mainly due to the development of non-food goods -Area has been determined. As for inflation, the Harmonized Index of Consumer Prices (HICP) recorded a sharp decline on average in 2023 to 5.9% from 8.7% in 2022, declining gradually throughout the year and reaching 0.5% in December . Since October, price increases in Italy have been below the euro area average. Inflation relative to “Shopping venture“, Summary of prices for food, household and personal care products, was 9.5% in 2023 (8.4% in 2022), decreasing from 12.6% in December 2022 to 5.3% in December 2023 .

In the monthly communication on economic development, he states that instead of the end of 2023 “the The international economic outlook remains very uncertain, marked by geopolitical tensions for which there is no immediate solution and by continued restrictive financial conditions for families and businesses. Energy commodity prices currently appear to remain on a downward trend.”

However, the results of the investigations gave a signal for both the euro area in general and for Italy in December Strengthening the trust of families and companies which in both cases is reported towards the levels of July 2023.” Also with regard to Italy we read: “In the third quarter, family purchasing power continued to a, after the sharp decline in the last three months of 2022.” Road to recovery.

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