In July 2017 industrial production, also thanks to software for optimising the process and the 4.0 Industry Plan, grew 4.4% over the year. Istat notes that the trend index has been growing almost uninterrupted since August 2016, with the sole exception of January 2017. Capital goods are the driving force, having seen a sharp increase of 5.9% on the year, and “are the only sector well above the 2010 level.” Consumer goods (+ 4.1%), intermediate goods (+ 3.5%) and energy (+ 3.3%) are also up.
The motor vehicle sector has seen a sharp increase over the year, up by 9.1% in July. Also mining activities, machinery and the food industry are doing well. Among the sectors that are struggling are clothing and leather. Gentiloni: “The country is recovering, albeit with difficulty.” Calenda: “Resources for Business are creating jobs”.
“Among the sectors, the one that stands out is automotive production, which saw a rise of 9.1% in July 2017 compared to the same month in 2016.” In the first seven months of the year, the increase recorded by ISTAT was 10%. On a year by year basis, also mining activities (+ 8.4%), machinery and equipment manufacturing n.e.c. (+ 8.0%), the food industry, beverages and tobacco and transport manufacture (both +6,9%) are going well. Decreases have instead been recorded in the sectors of electrical and non-electrical household appliance manufacture, the manufacture of computers, electronics and optics, electro medical appliances, measuring devices and timepieces (both -0.6%) and the textile industries, clothing, leather and accessories (-0.5%).
Overall, the figures most certainly confirm a trend towards recovery of the Italian economy, Prime Minister, Paolo Gentiloni also points out: “The figures on today’s industrial production are figures that only one or two years ago, we would have considered impossible to achieve, the country is recovering albeit with difficulty.” Meanwhile, former Prime Minister, Matteo Renzi underlines this with a tweet: – “Industrial production + 4.4% (Istat).
The Minister of Economic Development, Carlo Calenda also underlines the continuing recovery, in addition to the need to support it with appropriate policies: “The annual growth of 4.4% in industrial production, indicated by Istat is a new positive sign of recovery in Italy’s manufacturing system. Notably, the Capital Goods index (+ 5.9%) and even more significant growth in the manufacturing of machinery and equipment (+ 8.0%) indicate that the Industrial National Plan 4.0 is working to encourage and support company investments. The figures confirm the efficiency of the decision to eliminate ineffective incentives by introducing automatic tax breaks which are not tied to a specific industry sector or scale. We should continue to work on supply polices, focusing resources to help companies that can produce and create jobs. ”
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Source: Repubblica.it 11/09/2017