Italy’s industrial production declined by 0.4% month-on-month in September 2024, following a revised flat reading in August and falling more sharply than the expected 0.2% decline.
Italy’s industrial output drops 0.4% in September
The decrease was primarily driven by significant drops in consumer goods (-2.5%), compared to a 2.8% increase in August, and energy goods (-3.8%), which reversed the 2.3% growth the previous month. In contrast, production in capital goods and intermediate goods rebounded, rising by 1.8% and 1.9%, respectively, after sharp declines in August.
On a year-on-year basis, industrial output fell by 4% in September, a steeper decline than the 3.2% drop recorded in August. This marked the sharpest annual decline in industrial production over a year, highlighting ongoing challenges in Italy's manufacturing sector.
The contraction reflects broader economic headwinds, including weakening domestic demand and pressures from global supply chain disruptions. Despite the recovery in some sectors, the overall slowdown in industrial production points to a continued period of economic uncertainty for Italy.
