In October 2021, industrial production in Italy was recovering compared to last year. The overall production grew by around two percent compared to October 2020. As a consequence of the rising number of coronavirus cases, in March 2020, the Italian government announced that the country would go into lockdown to prevent the spread of the coronavirus. Many non-essential activities had to shut down or reduce their operations.
Impact on consumption and production
The spring of 2020 recorded a very sharp decrease in industrial production and consumption. In terms of industrial production, some of the most impacted sectors by the coronavirus were the manufacture of textiles, apparel, leather, and accessories, as well as the manufacture of transport equipment. Similarly, consumption volume increased in March 2021 compared to one year ago. During the pandemic, the sectors of air transportation and leisure activities saw some of the largest drops in consumption.
Recovery after COVID-19
Italy's economy has been strongly hit by the coronavirus pandemic, with Italy's GDP dropping consistently in 2020. Additionally, Italian exports are estimated to have decreased by over 15 percent. However, 2021 seems to be a year of recovery. The GDP is estimated to grow from three to four percent. The exports and imports are going to increase as well. Nevertheless, the next two years might experience an increase in unemployment rate, particularly during 2021.
Year-on-year (Y-o-Y) industrial growth rate in Italy in selected months between March 2020 and October 2021, by industrial groupings
(calendar adjusted)
Characteristic
March 2020
June 2020
July 2020
August 2020
September 2020
October 2020
November 2020
December 2020
January 2021
February 2021
March 2021
April 2021
May 2021
June 2021
July 2021
August 2021
September 2021
October 2021
Manufacture of transport equipment
-52.6%
-26.4%
-11.5%
10%
-4.1%
5.6%
2.3%
-3.8%
-1.5%
-3.2%
102.1%
327.3%
39.1%
21.5%
1.8%
-23.7%
-11.7%
-13.2%
Manufacture of textiles, wearing apparel, leather, and accessories
-51.2%
-26.7%
-20.6%
-2.8%
-20.8%
-17.4%
-26.7%
-28.5%
-20.8%
-13.7%
51%
363.2%
14.4%
8.5%
9.3%
-17.1%
4.5%
1.4%
Manufacture of machinery and equipment n.e.c.
-40.1%
-14.4%
-7.7%
-5.4%
-11.9%
-5.1%
-6.8%
-4.6%
-1.7%
-4.2%
52.4%
109.7%
20.4%
12.1%
9.5%
10.3%
11.4%
5%
Manufacture of basic metals and fabricated metal products, except machinery
-37%
-16%
-10.5%
1%
-5.4%
-1.9%
0.3%
6.2%
1.2%
-1%
59.7%
132.8%
26%
21.1%
11.9%
16.6%
9.6%
4.9%
Manufacture of electrical equipment and of non-electric domestic appliances
-35.7%
-11.4%
-9.7%
0%
-3.9%
4%
5.9%
6.8%
9.7%
8.5%
66.4%
131.4%
32.8%
25.5%
12.5%
6.3%
6.8%
0.6%
Other manufacturing
-34.9%
-12.6%
-4.4%
8.8%
0.2%
3.5%
-1.2%
1.9%
-2.3%
-1.6%
56.6%
160.9%
35.8%
17.6%
7.3%
-10.4%
2.6%
-1.9%
Total
-29.3%
-13.7%
-8%
-0.3%
-5.1%
-2.1%
-4.2%
-2%
-2.4%
-0.6%
37.7%
79.5%
21.1%
13.9%
7%
0%
4.4%
2%
Manufacture of rubber, plastic products, and other non-metallic mineral products
-28.7%
-16.4%
-7.2%
2.8%
0%
2.8%
2.9%
10.9%
3.8%
1.8%
45%
149.3%
40.1%
23%
9.8%
2.6%
7.4%
4.7%
Mining and quarrying
-21.4%
1.5%
-10.2%
-7%
2.7%
-2.1%
-5.8%
-8.7%
0.7%
-15.9%
0%
19.9%
-16.2%
-4.6%
-0.3%
-17.7%
-6.3%
-7.5%
Manufacture of computer and electronic products
-19.8%
-14.5%
-4.4%
0.5%
-0.8%
2.2%
-6%
-3.6%
-1.6%
4.6%
42.8%
65.7%
24.2%
25.3%
8.1%
-0.8%
-0.3%
-4.9%
Manufacture of wood, paper, and printing
-15.5%
-10.3%
-8.1%
-6%
-1.6%
-2.1%
-4.9%
-6.9%
2.3%
-5.8%
22.2%
57.1%
24.3%
12%
9%
0.6%
4%
5.6%
Electricity, gas, steam, and air conditioning supply
-11.1%
-5%
-5.8%
1%
2%
-1%
-4.8%
0.6%
1.2%
1.7%
8.5%
17.2%
-0.3%
2.5%
0.3%
-6.8%
-5%
1.8%
Manufacture of chemical products
-11%
-12.7%
-9.2%
-5.1%
-6.4%
-4.4%
-2.4%
7.5%
4.4%
3.5%
11.6%
27.2%
16.1%
7.1%
3.6%
5.7%
6%
4.6%
Manufacture of basic pharmaceutical products and pharmaceutical preparations
-9.1%
-6.1%
-1.4%
2.1%
-9.1%
-7.9%
-8.2%
-10.9%
-13.6%
-7.7%
1.8%
-3.2%
-3.6%
9.1%
3.6%
-20.9%
7.7%
2.4%
Manufacture of coke and refined petroleum products
-9%
-22.9%
-21.4%
-17%
-20.4%
-17.4%
-18.3%
-16.5%
-18.4%
-26.2%
3.6%
20.9%
19.6%
21.7%
6.5%
5.2%
13.3%
20.4%
Manufacture of food products, beverages, and tobacco
The indices are calculated with reference to the base year 2015 using the Ateco 2007 classification (Italian edition of Nace Rev. 2), index 2015=100.
The source adds the following information:
"calendar adjusted data refer to the correction for calendar effect in a reference period (month or quarter) that may vary from year to year. This method allows a reconciliation of asymmetries for calendar differences such as the number of working days, the week days distribution in the reference period and the occurrence of public holidays (including moving holidays like Easter) and of a leap year. Working day adjusted data permit to better compare year-on-year growth rate and average annual growth rate."
Figures have been taken from several publications.
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Istat. (December 10, 2021). Year-on-year (Y-o-Y) industrial growth rate in Italy in selected months between March 2020 and October 2021, by industrial groupings (calendar adjusted) [Graph]. In Statista. Retrieved August 10, 2022, from https://www.statista.com/statistics/1097916/year-on-year-industrial-production-growth-index-by-industrial-groupings-in-italy/
Istat. "Year-on-year (Y-o-Y) industrial growth rate in Italy in selected months between March 2020 and October 2021, by industrial groupings (calendar adjusted)." Chart. December 10, 2021. Statista. Accessed August 10, 2022. https://www.statista.com/statistics/1097916/year-on-year-industrial-production-growth-index-by-industrial-groupings-in-italy/
Istat. (2021). Year-on-year (Y-o-Y) industrial growth rate in Italy in selected months between March 2020 and October 2021, by industrial groupings (calendar adjusted). Statista. Statista Inc.. Accessed: August 10, 2022. https://www.statista.com/statistics/1097916/year-on-year-industrial-production-growth-index-by-industrial-groupings-in-italy/
Istat. "Year-on-year (Y-o-y) Industrial Growth Rate in Italy in Selected Months between March 2020 and October 2021, by Industrial Groupings (Calendar Adjusted)." Statista, Statista Inc., 10 Dec 2021, https://www.statista.com/statistics/1097916/year-on-year-industrial-production-growth-index-by-industrial-groupings-in-italy/
Istat, Year-on-year (Y-o-Y) industrial growth rate in Italy in selected months between March 2020 and October 2021, by industrial groupings (calendar adjusted) Statista, https://www.statista.com/statistics/1097916/year-on-year-industrial-production-growth-index-by-industrial-groupings-in-italy/ (last visited August 10, 2022)
