Italian industrial activity is estimated to decline in May (-1.4%), after retreating in April. In the second quarter of 2022 there would thus be a contraction already acquired of -0.6% in industrial production, due in particular to the rise in energy costs and supply difficulties, exacerbated by Russian military operations in Ukraine. The estimate is from the Confindustria Study Center. The qualitative surveys (ISTAT and IHS-Markit) continue to highlight fears regarding the persistence of the factors that slow down the production activity of companies.
In the 2nd quarter of 2022, therefore, – explains the Confindustria study center – the acquired change in industrial production would be -0.6% compared to the 1st quarter, in which a decrease of -0.9% had already been recorded compared to previous quarter. The further decline estimated for May, added to the drop in orders, in April of -0.3% and in May of -0.1%, compromises expectations for the 2nd quarter. The unchanged level in March surprised because all the qualitative indicators, and the CSC survey itself, suggested a fall, which would have pushed to confirm the negative dynamics of GDP in the first quarter.
Source: Ansa
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