Istat, industrial production falls in March: -3.2% on an annual basis

Almost all the main sectors of activity decrease both on a monthly basis and in annual terms with the exception of capital goods

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 drop of 3.2% and also the first quarter is “slightly down” by 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” (-11.2%). Among the growing sectors of economic activity, the manufacture of means of transport stands out (+12.4% year on year).

Codacons: “A vertical collapse”

“Vertical collapse for Italian industry, with production in March marking a drop of -0.6% compared to the previous month, and -3.2% on an annual basis”. This was stated by Codacons, commenting in a note on the data provided by Istat. “In March, production recorded the third consecutive drop, a figure that is no longer just an alarming signal, but tangible proof of the difficulties affecting the industrial sector”, explains the chairman Carlo Rienzi. “Consumer goods are of particular concern, which are recording an unbridled decline, with a contraction of -4.7% on an annual basis, a figure clearly affected by the price emergency that has been gripping our country for months”, he continues Rienzi who indicates that “it is inflation that weighs like a ton on Italian industry”. For this reason, Codacons is asking to intervene on retail prices, in the belief that “only by calming price lists will it be possible to protect the purchasing power of families, support consumption and help industry, commerce and the economy”.