In February 2016, the seasonally adjusted index of industrial production decreased by 0.6% compared to January. On average for the December 2015-February 2016 quarter, production increased by 0.3% compared to the previous quarter.
Corrected for calendar effects, in February 2016 the index increased in trend terms by 1.2% (working days were 21 against 20 in February 2015). On average for the first two months of the year, production increased by 2.5% compared to the same period of the previous year.
The seasonally adjusted index shows positive cyclical changes in the groupings of intermediate goods and capital goods (both +0.2%); on the other hand, energy (-2.9%) and consumer goods (-0.5%) decreased.
In trend terms, the indices adjusted for calendar effects recorded, in February 2016, increases in the sectors of capital goods (+6.9%), intermediate goods (+2.8%) and, to a lesser extent, consumer goods (+0.3%); on the other hand, there was a significant decrease in the energy sector (-4.6%).
As regards the sectors of economic activity, in February 2016 the sectors that recorded the greatest trend growth were those of the manufacture of computers, electronic and optical products, electro-medical equipment, measuring devices and watches (+8.3%), of the rubber and plastics articles, other non-metallic mineral processing products (+8.2%) and other manufacturing, repair and installation of machinery and equipment industries (+8.2%). The greatest decreases were recorded in the sectors of the supply of electricity, gas, steam and air (-7.5%), the manufacture of coke and refined petroleum products (-5.5%) and the textile, clothing, leather and accessories industries ( -2.4%).
ISTAT press release Reference period February 2016 – Published on Monday 11 April 2016
SECTOR OF ECONOMIC ACTIVITY Production of basic pharmaceutical products and pharmaceutical preparations
Seasonally adjusted data
Feb 16/ Jan 16: -2,0
Dec 15-Feb16/ Sep 15-Nov 15: +0,1
Data corrected for calendar effects
Feb 16/ Feb 15: +1,3
Jan-Feb 16/ Jan-Feb 15: +3,5
NB: Seasonally adjusted data: data purified, using specific statistical techniques, from fluctuations attributable to the seasonal component (due to meteorological, customary, legislative factors, etc.) and, if significant, from calendar effects. This data transformation is the most suitable for capturing the cyclical evolution of an indicator
Data corrected for calendar effects: data purified, by means of specific statistical techniques, of the variability attributable to the composition of the calendar in the single periods (months or quarters) of the year, due to the different number of working days or specific days of the week contained therein and to the presence of civil and religious national holidays, fixed and mobile (Easter holidays) as well as leap year. The use of this data transformation allows for a more adequate understanding of both the trend variations (calculated with respect to the same period of the previous year) and the average annual variations.
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