Essays academic service


An in depth overview of the economic and industrial statistics of italy

Data extracted in March 2018. This article takes a look at the industrial production index as it is calculated in the European Union EU as well as in some EFTA and candidate countries. Please also see the monthly Eurostat News Release 12 September 2018.

Full article General overview Since mid-2003 total industrial output had been on a relatively steady growth path.

The production level reached its highest value in April 2008 and then fell continuously for one year until in April 2009 when it was 21 percentage points below its former peak.

In the second half of 2011 and in 2012, industrial production in the EU-28 was on a slow downward trend. Afterwards production in these areas recovered until the first half of 2011 and then saw a decline for almost two years. Durable and non-durable consumer goods The production of consumer durables reached its peak several months before total production and had already been on a slow decline before the onset of the crisis. The development of non-durable consumer goods was less dramatic than in the other main industrial groupings.

The overall decline in this sector was slower and amounted to only around 7 percentage points Figure 1. Ever since the volume of non-durable consumer goods has developed much in line with total production. Energy products For energy products the development of the output level was quite different from the evolution of the other areas. During the period from April 2008 to April 2009 production levels in this industry fell by 15 percentage points.

But production levels in the energy sector tend to be rather volatile and the drop in production during the main years of the crisis was not so much different from e. Development of main industrial groupings Table 1 shows a breakdown of the general development of the main industrial groupings in more detailed NACE divisions. The 2009 decline in production was particularly strong for machinery and equipment and for motor vehicles which together account for around one fifth of total industrial production.

Considerable negative rates of change were also recorded for electrical equipment, for basic metals and fabricated metal products.

The magnitudes of the various rates of change for consumer goods reflect consumers' possibilities and inclinations to adjust their consumption to the new circumstances in the economic crisis. The only sector that did not register a decline in production levels during the crisis years 2008 and 2009 was the pharmaceutical industry.

Access Denied

Annual rates of change for total industry, main industrial groupings and NACE divisions, calendar adjusted data, EU-28, 2005-2017, Source: EU-28 Annual rate of change 2017, calendar adjusted data, Source: In 2010 all EU countries with the exception of Greece, Croatia, and Cyprus had returned to positive growth rates. After two years of recovery the EU-28 as a whole in 2012 again displayed a negative industrial development.

This downwards trend for the EU-28 continued for the following year.

Italy Economic Outlook

However the negative growth rates were smaller in 2013 than in 2012. In 2014 the EU returned to a positive growth which continued in 2015, 2016, and 2017. Annual rates of change by country, calendar adjusted data, 2005-2017, Source: This means that the inputs obtained by one branch from another must be deducted from its gross output. In this way double counting of production is prevented and the degree of vertical integration of branches should not influence the results for the indicator.

Documents tagged with: GDP

In practice, however, it is difficult to collect value-added data on a monthly basis. Most statistical institutes therefore derive monthly production data from other sources including deflated turnoverphysical production data, labour input, intermediate consumption of raw materials and energy etc. Eurostat publishes, on a monthly basis, the industrial production index for the EU, for the euro area and the Member States; data are also collected for several non-EU countries Table 2. Context The industrial production index is one of the most important short-term statistics indicators.

Industrial production (volume) index overview

It is used to identify turning points in the economic development at an early stage and to assess the future development of GDP. In order to serve this purpose it is available on a monthly basis in a detailed activity breakdown and with a rather short delay 1 month and 10 days. The industrial production index is one of the so-called ' Principal European economic indicators PEEI ' which are used to monitor and steer economic and monetary policies in the EU and in the euro area.