| Consensus | Consensus Range | Actual | Previous | Revised | |
|---|---|---|---|---|---|
| Month over Month | 0.3% | 0.0% to 0.5% | 0.4% | 0.2% | |
| Year over Year | 0.9% | -0.9% | -0.7% |
Highlights
Industrial production rose 0.4 percent on the month in July, 0.1 percent more than the consensus and 0.2 percent more than in June. Intermediate goods rose 0.7 percent, capital goods and consumer goods rose 1.6 percent and 2.1 percent respectively. Energy on the other hand declined 7.8 percent.
Year-over-year, output was grew 0.9 percent, 1.6 percent more than June's revised decline of 0.7 percent and the highest it has been all year. This was largely due to increase in consumer goods, intermediate goods and capital goods, which grew 3.0 percent, 0.3 percent and 2.8 percent, respectively. This offsets the decline in energy. Energy fell 5.2 percent.
In sum, goods production grew slightly in July compared to June, with year over year production the strongest in 2025. On average, output rose 0.2 percent over the last three months.
Today's data puts the RPI at minus 6 and the RPI-P at 2. This means that Italy's economic activities remain within market expectations.
Year-over-year, output was grew 0.9 percent, 1.6 percent more than June's revised decline of 0.7 percent and the highest it has been all year. This was largely due to increase in consumer goods, intermediate goods and capital goods, which grew 3.0 percent, 0.3 percent and 2.8 percent, respectively. This offsets the decline in energy. Energy fell 5.2 percent.
In sum, goods production grew slightly in July compared to June, with year over year production the strongest in 2025. On average, output rose 0.2 percent over the last three months.
Today's data puts the RPI at minus 6 and the RPI-P at 2. This means that Italy's economic activities remain within market expectations.
Market Consensus Before Announcement
The consensus sees industrial production up a moderate 0.3 percent on the month in July after rising 0.2 percent in June.
Definition
Industrial production measures the physical output of the nation's factories, mines and utilities. Construction is excluded. Approximately 4,100 companies provide data on more than 8,000 monthly flows of production.
Description
Investors want to keep their finger on the pulse of the economy because it usually dictates how various types of investments will perform. The stock market likes to see healthy economic growth because that translates to higher corporate profits. The bond market prefers more subdued growth that will not lead to inflationary pressures. By tracking economic data such as industrial production, investors will know what the economic backdrop is for these markets and their portfolios. Like the PPI and the orders data, construction is excluded from the data. This report has a big influence on market behavior. In any given month, one can see whether capital goods or consumer goods are growing more rapidly. Are manufacturers still producing construction supplies and other materials? This detailed report shows which sectors of the economy are growing and which are not.
