In August 2022, the seasonally adjusted industrial production index is estimated to increase by 2.3% compared to July. On average for the June-August quarter, the level of production decreased by 1.2% compared to the three 
previous months.
The seasonally adjusted monthly index shows a sustained cyclical increase for consumer goods (+2.6%) and a more contained growth for capital goods (+1.8%) and intermediate goods (+0.8%); conversely, a decrease is observed for energy (-2.3%).
Adjusted for calendar effects, in August 2022 the overall index increased in trend terms by 2.9% (there were 22 calendar working days as in August 2021). Marked year-on-year increases were recorded for consumer goods (+8.6%) and to a lesser extent for energy (+1.7%) and capital goods (+1.2%); intermediate goods, on the other hand, decreased (-1.6%).
Among the sectors of economic activity that register positive trend changes are noted in the production of basic pharmaceutical products and pharmaceutical preparations (+51.0%), the manufacture of computers and electronic products (+31.0%) and the textile, clothing, leather and accessories industries (+20.9%). The largest decreases were recorded in the manufacturing of chemical products (-14.6%), in metallurgy and manufacturing of metal products (-11.3%) and in the manufacturing of articles in rubber and plastic materials (-4.3%).
The comment
In August, a cyclical increase in industrial production was observed after the slight growth of the previous month. The positive economic tone of August is widespread in the main sectors, with the exclusion of energy. On the other hand, on average over the last three months, the overall economic trend remains negative.
In trend terms, net of calendar effects, the variation remains positive both for the general index and for the main groupings of industries, with the exception of intermediate goods which decline moderately. The largest increases concern consumer goods.
ISTAT – PUBLICATION DATE: 11 OCTOBER 2022
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