In July 2022, the seasonally adjusted industrial production index is estimated to increase by 0.4% compared to June. On average for the May-July period, the level of production decreased by 1.6% compared to the three 
previous months.
The seasonally adjusted monthly index grows on a quarterly basis only for capital goods (+2.0%), while it decreases for consumer goods (-0.7%), intermediate goods (-0.6%) and energy (- 0.5%).
Corrected for calendar effects, in July 2022 the overall index decreased in trend terms by 1.4% (calendar working days were 21 against 22 in July 2021). Energy (+3.2%) and consumer goods (+1.0%) grew; on the other hand, capital goods decreased (-2.0%) and, to a more marked extent, intermediate goods (-4.4%).
Among the sectors of economic activity that register positive trend changes are noted the manufacture of coke and refined petroleum products (+15.0%), the production of basic pharmaceutical products and pharmaceutical preparations (+3.3%) and the supply of electricity, gas, steam and air (+2.8%). The largest decreases were recorded in metallurgy and metal product manufacturing (-8.1%), rubber and plastic material manufacturing (-6.8%) and chemical product manufacturing (-3.8%).
The comment
Industrial production grew slightly in July in quarterly terms after the decline observed in the previous two months. However, the cyclical trend on average over the last three months is negative. All major business sectors are down, with the exception of capital goods.
The index corrected for calendar effects decreases in trend terms. Among the main industrial groupings, energy and consumer goods grew, against a conspicuous decline for intermediate goods.
ISTAT press release - 12 September 2022
Full Text and Methodological Note
