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Italy: industrial production fell by 0.9% in the first quarter

2022-05-10T08:45:11.351Z


Industrial production in Italy fell 0.9% in the first quarter compared to the previous one, in an economic context shaken by the war...


Industrial production in Italy fell 0.9% in the first quarter compared to the previous one, in an economic context heckled by the war in Ukraine, the National Institute of Statistics (Istat) said on Tuesday.

Read alsoSpain: industrial production drops again in March

In March, production remained stable compared to February.

The index stood at 106, thus remaining well above the level recorded at the start of the Covid-19 pandemic in March 2020. An increase in production was recorded in March for energy (+2.7% ), consumer goods (+1%) and capital goods (+0.4%).

Conversely, intermediate goods fell compared to February (-0.7%).

Compared to March 2021, industrial production increased by 3%, in data adjusted for calendar effects.

Under the effect of the war in Ukraine, Italy's Gross Domestic Product (GDP) fell by 0.2% in the first quarter compared to the previous one.

Inflation, driven by soaring energy prices, reached 6.2% in April, its highest level since September 1991. The Italian government lowered its growth forecast for this year in April, now counting on a rise in GDP of 3.1%, against 4.7% previously, taking into account the consequences of the Russian invasion of Ukraine.

Read alsoGermany: 3.9% drop in industrial production in March, weighed down by Covid-19 and the war in Ukraine

Italy's growth had reached 6.6% in 2021, a rate not seen since 1976, which had greatly exceeded government forecasts.

Rome released in early May 14 billion euros in additional aid to mitigate the impact of soaring energy prices on families and businesses.

Source: lefigaro

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