Y-o-Y industrial production growth rate in Italy 2024, by industrial groupings

In August 2024, industrial production in Italy overall decreased by three percent compared to August 2023. Manufacturing of transport equipments, machinery, the textile sector, and metallurgy recorded a drop by more than ten percent. On the contrary, electricity, and chemicals registered the highest growth rates.

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.