Industry: CsC estimates + 3.9% production in June but -18.9% on last year
The Confindustria Research Center notes a decrease in industrial production of 18.9% in June on the same month of the previous year and 29.1% in May over the twelve months. In cyclical terms, or compared to the previous month, there was a rebound of 3.9% in June, after the + 32.1% recorded in May. Volume orders decreased by 34.6% per year in June (+ 6.3% on the previous month) and 48.5% in May (+ 13.7% on April).
According to the CsC, after the reopening of industrial activities and services from May, the increase in demand – albeit still modest – triggered a recovery in the supply which in the two months of the survey was significant in percentage terms. The levels, on the other hand, remain considerably depressed and far from the pre-Covid levels (the production index decreased by 21.4% compared to January). In the second quarter, industrial activity is estimated to decrease by 21.6%, a sharp deterioration compared to the trend recorded in the first (-8.4% on the fourth quarter of 2019).
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