Industry, production fell by 3.2% in March
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March sees the third consecutive decline in industrial production, with a 0.6% reduction in the seasonally adjusted index compared to February, according to Istat data. Compared to the previous year there is a decrease of 3.2% and also the first quarter shows a slight decrease, of 0.1%, compared to the previous three months.
Almost all the main sectors of activity decreased both on a monthly basis and in annual terms with the exception of capital goods. There is “a large drop in energy compared to the previous year”, reads the note from Istat, which records -11.2%. Among the growing sectors of economic activity, the manufacture of means of transport stands out (+12.4% year on year).
There were 23 calendar working days as in March 2022. Only capital goods grew compared to March 2022 (+3.9%); on the other hand, consumer goods (-4.7%), intermediate goods (-6%) and, as mentioned, energy to a more marked extent (-11.2%) decreased.
Among the sectors of economic activity with a trend growth, in addition to means of transport, we note the production of basic pharmaceutical products and pharmaceutical preparations (+6.5%) and the manufacture of coke and refined petroleum products (+3.3% ).
The largest declines are recorded in the wood, paper and printing industries (-13.4%), in the supply of electricity, gas, steam and air (-12.5%) and in mining (- 11%).
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