Italy Industrial Output Rebounds More than Expected

Italy’s industrial production rose 0.7% month-on-month in July 2026, rebounding from a revised 1.1% drop in June and beating market forecasts for a 0.3% gain. Output rebounded for consumer goods (2.1% vs -0.5% in June), intermediate goods (0.5% vs -0.8%), and capital goods (0.2% vs -2.0%). Meanwhile, energy production fell 0.9%, reversing a 0.2% increase in the previous month. On a yearly basis, industrial output was unchanged, following a 0.6% fall in June and outperforming market expectations for a 0.6% drop. Energy production rose sharply (6.4% vs 0.9%), while smaller declines were seen in intermediate goods (-0.8% vs -1%) and consumer goods (-1.2% vs -3.2%). Capital goods edged down 0.1%, following a 0.8% increase previously. Among sectors, the energy sector recorded the strongest annual increase, rising 7.6%, followed closely by the production of basic pharmaceutical products and pharmaceutical preparations, which increased 7.4%.

Italy’s industrial production dropped 1% month-on-month in June 2026, following a 0.3% fall in May and missing market expectations for a 0.3% rise. The downturn was broad-based, with output falling further for capital goods (-2.1% vs -0.2% in May), intermediate goods (-0.9% vs -0.7%), and consumer goods (-0.7% vs -0.4%). Energy production growth also slowed sharply to 0.8% from 4.4%. Yearly, industrial output fell 0.6%, reversing an upwardly revised 1.2% rise in May and against expectations of a 1% gain. Consumer goods (-3.2% vs -2.9%) and intermediate goods (-1.2% vs 0.8%) posted declines, while growth in capital goods eased significantly (0.6% vs 4.9%). Energy output, meanwhile, increased further (1.7% vs 1.5%). By industry, the largest annual declines were reported in the manufacture of textiles, clothing, leather, and related accessories (-7.1%), other manufacturing activities, repair and installation of machinery and equipment (-3.6%), and machinery and equipment n.e.c. (-2.3%).

Italy’s industrial production fell 0.3% month-on-month in May 2026, slightly more than market expectations of a 0.2% decline, and reversing a revised 0.4% increase in the previous month. This marked the first contraction since January, as output declined in capital goods (-0.1% vs 1.0% in April) and intermediate goods (-0.8% vs 0.8%), while the fall in consumer goods deepened (-0.5% vs -0.1%). In contrast, energy production rebounded sharply (4.6% vs -0.2%). On an annual basis, industrial output rose 1.1%, unchanged from the revised April reading. Growth eased for capital goods (5.0% vs. 6.4%) and intermediate goods (0.8% vs. 1.8%), while the decline in consumer goods moderated (-3.2% vs. -4.1%), and energy output returned to growth (1.9% vs. -2.7%). By industry, the strongest growth was recorded in transportation equipment (11.6%), basic pharmaceutical products and pharmaceutical preparations (3.5%), and chemical products (3.3%).