Italy's industrial production index in August 2023 witnessed a modest increase of 0.2 per cent month-on-month (MoM) on a seasonally adjusted basis, according to the latest data from Italian National Institute of Statistics (Istat). Furthermore, when comparing the average of the last three months to its preceding three months, the index saw a rise of 0.4 per cent.However, on a calendar-adjusted basis, the industrial production index showed a decline of 4.2 per cent when compared to figures from August 2022.
In August 2023, Italy's industrial production rose by 0.2 per cent MoM, with a 0.4 per cent three-month average increase.
However, the index dropped by 4.2 per cent year-on-year.
The textile and apparel sector saw a significant 12.8 per cent YoY decline.
The unadjusted industrial production index recorded a decline of 4.1 per cent compared to August 2022.
The manufacturing of textiles, wearing apparel, leather, and accessories faced a significant downturn. The index for this sector plummeted by 12.8 per cent on a year-on-year (YoY) basis, as per Istat.
Moreover, the unadjusted industrial production index recorded a decline of 4.1 per cent compared to August 2022.
Fibre2Fashion News Desk (DP)
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