Italy's industrial production plunged 3.1% in December 2024 compared to November, according to a report by Istat published on Wednesday. The reading was significantly lower than anticipated. The energy output saw an increase of 0.9% month-on-month but the production of intermediate goods dropped 3.6% and capital and consumer goods fell by 3.3%. On a yearly basis, Italy recorded a 7.1% decrease in industrial output.
Compared to the full year 2023, industrial production shrank by 3.5% in 2024, with energy as the only growing sector. "In manufacturing, only the food, beverage and tobacco industries are growing compared to the previous year, while the most significant declines are recorded for textiles, clothing, leather and accessories and manufacturing of means of transport," the report said.
