Industry - Country Industry Forecasts - Italy

Industry - Country Industry Forecasts - Italy

Q2’s small growth in industrial output of less than 0.1% q/q represented a break relative to the consecutive contractions of the two previous quarters. Manufacturing and extraction both contracted on the quarter while an expansion in utilities output kept industrial output growth on the whole slightly positive. The outlook for the rest of the year is quite gloomy—we expect that manufacturing output levels will continue falling, reaching a trough in Q1 of 2024 before a recovery takes hold.