Italian Industrial Production Expected to Decline by Coronavirus Outbreak by 4.3%

wallpapers Industry 2020-03-04
After the industrial winter in France and Germany, Italy was not spared. Statistics from the Italian Bureau of Statistics show that in December, industrial production in Italy fell by 2.7% and is expected to decline by 4.3% in the future. Industrial output in 2019 declined year-on-year, the first time since 2014.
Italian industrial production seems to have experienced a cold water bath, and the heat is difficult to recover. The full year of 2019 fell by an average of 1.3%, and it only increased in the first quarter and continued to decline in the coming quarters. As of December, the output of all industries has declined significantly: intermediate products fell by 2.8%, energy and consumer goods fell by 2.5%, and capital goods fell by 2.3%. Among them, intermediate products fell by 6.6% in December, the voltage dropped by 6.0% (of which the lubricant market fell by 2.6%), capital goods fell by 4.7%, and consumer goods fell even more sharply (8%).
While Italian industrial production is expected to decline by 4%, the impact of the outbreak in early 2020 is expected to make the Italian economy worse. As the country with the worst epidemic situation in Europe, Italy alone reached 347 new confirmed cases on March 4th, and the cumulative number of confirmed cases was 2,546. According to the latest news, the U.S. Centers for Disease Control and Prevention has raised travel alerts to Italy to the highest level. With the spread of the epidemic in Italy, the world around Italy has also been affected. Fifteen new cases of neonatal pneumonia have been diagnosed in Switzerland, most of them with a history of travel to Italy.
Therefore, the Italian Bureau of Statistics is full of negative and unknown expectations for industrial production this year. Facing the current severe situation, the government needs to intervene vigorously and promptly, with a view to a decisive reversal of the case.

Tag: Industrial