Italy Industrial Turnover in November 2022: 0.9% MoM Increase and 11.5% YoY Rise

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According to ISTAT, industrial turnover increased by 0.9% in November compared to the previous month, and a 11.5% increase compared to the same month in 2021.

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The Italian National Institute of Statistics (ISTAT) announced on Friday that the industrial-turnover index, which measures the performance of the industrial sector, has risen again in November after two consecutive months of decline. The index showed a 0.9% increase compared to October. Furthermore, ISTAT reported that the industrial turnover was up by 11.5% compared to November of the previous year. The energy sector showed the highest increase with a 19.5% rise in turnover. This positive development in the energy sector may indicate a recovery in the country’s economic activity and a positive outlook for the industrial sector.

After adjusting for seasonal factors, is estimated to have increased by 0.9% in cyclical terms. Both domestic and foreign markets showed positive growth, with a 0.6% increase in the domestic market and a 1.3% increase in the foreign market. In the quarter from September to November 2022, the overall index grew by 0.8% compared to the previous quarter, with 0.4% growth in the domestic market and 1.7% growth in the foreign market.

The report also highlighted that among the main industry groupings, seasonally adjusted indexes of turnover in November showed a cyclical increase for capital goods (+2.7%) and consumer goods (+1.5%), while there was a month-on-month decline for energy (-1.8%) and intermediate goods (-0.5%). Istat further pointed out that “after two months of declines,” the industry turnover, net of seasonal factors, returned to growth in November in cyclical terms, primarily due to the greater dynamism of the foreign component compared to the domestic one. In the trend comparison on working-day adjusted data, there is an overall increase in the value of turnover, with growth also seen in the main industry groupings. However, the growth in volume is significantly smaller.

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