Italy - Industrial Production





Italy: Industrial Production

Mnemonic IP.IITA
Unit Index 2015=100, SA
Adjustments Seasonally Adjusted
Monthly 0.38 %
Data Sep 2019 104.6
Aug 2019 105

Series Information

Source Italian National Institute of Statistics (ISTAT)
Release Industrial Production
Frequency Monthly
Start Date 1/31/1953
End Date 9/30/2019

Italy: Business

Reference Last Previous Units Frequency
Capacity Utilization 2019 Q4 76.8 77 %, SA Quarterly
Business Confidence Oct 2019 99.6 98.6 Index 2010=100, SA Monthly
Industrial Production Sep 2019 104.6 105 Index 2015=100, SA Monthly
Change in Inventories 2019 Q2 -5,425 -3,966 Mil. EUR, CDASA Quarterly

Release Information

The industrial production index for Italy measures the change in time physical volume of production made by industry in the strict sense (i.e., industry excluding construction).  It is based on the results of a statistical sampling conducted among companies that measure the volume of production of goods included in a representative basket of goods.

 The monthly survey of industrial production is done directly by a panel of about 4,300 companies that provide the data on just over 8 thousand of monthly flows of production, usually defined in terms of physical quantities.  In addition to these data, the estimated production trends of specific industrial sectors, are used other statistical sources.  They include: the survey conducted by ISTAT on livestock carcasses, the information provided by the association of steel and from the national offices mining, oil and geothermal energy of Ministry of Productive Activities, the data of electricity detected by Terna (National Power Grid).  In order to improve the significance of the index and take into account changes in quality of industrial products over time, for a some (approximately 9.5%) production was detected by the hours worked: its primary product indexes are calculated using coefficients productivity estimated on the basis of national accounts aggregates.  For a smaller share (with a weight equal to about 7.9%) the activity is measured by production value, suitably deflated by a price index production.

Through the results of the indices of production 581 items of product and aggregation of the latter, the activity rates economic (according to the classification of economic activities Ateco 2007), overall and by Main Industrial Groupings (MIGs) defined by Commission Regulation No  656/2007 (OJ Communities Committee of 14 June 2007).

The main industrial groupings are: consumer durables, goods Consumer non-durables, capital goods, intermediate goods and energy.  Community Regulation has set for all member countries, the criteria for definition of the RPI: each of them are allocated according to the scale prevalence, entire groups and / or divisions of economic activity.  ISTAT shall also publish the index for consumer goods as a whole, obtained as a weighted average of the indices of consumer durables and non-durables.

The production index covers the mining, manufacturing, and energy sectors, excluding construction. The area covered by the production index is the whole national territory.

  • Industrial coverage: Enterprises with more than 20 persons employed (in some branches lower thresholds apply) classified in sections B, C and D of the NACE Rev. 2 (Isic rev.4) . For the manufacturing (section C), the coverage is 100 percent at the two-digit and and more than 90 percent at the three-digit level and four-digit level of industrial value added. Product coverage: Industrial goods classified in sections B, C and D of NACE Rev. 2. The 581 elementary products have a coverage of at least 70% in terms of value of production in each class (four-digit level).
  • Relationship with international guidelines: The main concepts are in accordance with the recommendations of the UN draft on International Recommendations on the Index of Industrial Production (updating of the UN Index numbers of industrial production -1950) and Eurostat Methodology of industrial short-term indicators, rules and recommendations, in particular Regulation of the EU Council 1165/1998, 1158/2005 and 656/2007 (amending Regulation (EC) No 586/2001). Moreover, Commission Regulation (EC) No 1503/2006 (implementing and amending Council Regulation No 1165/98 concerning short-term statistics as regards definitions of variables, list of variables and frequency of data compilation), 472/2008.
  • Concept: Measure of the evolution of the physical volume of industrial production as a proxy of the monthly value added.

 The indices of industrial production for the most recent month are provisional and are subject to two review processes that take place to different reasons.  A first review shall take place the next month, on the basis of additional information that is received by industry (indices adjusted are shown with the separate release).  A second type of review takes place every six months and covers the range of historical Indexes.  This revision is designed to incorporate three indexes types of information that becomes available after the publication of the first correction.