Industrial production fell in Italy on an annual basis for the twentieth consecutive month: April 2013 fell by 0.3% from March and 4.6% compared to April 2012. This was communicated by Istat. This is the twentieth consecutive fall on a trend basis. To find a given positive change on an annual basis in fact need to go back to August 2011. Also negative sign in front of the GDP and exports. In the first quarter of 2013, GDP fell by 0.6% compared to the previous quarter and 2.4% compared to the first quarter of 2012, exports saw their decline from the previous quarter by 1, 9%, marking the worst since from the first quarter of 2009.
SLOW DOWN - The fall in industrial production is still slowing down. The index calculated by Istat showed a decrease of 0.3% on a monthly basis, compared to 0.9% (figure revised from -0.8%) in March. Average for the quarter February to April decrease was 1% from the previous quarter. Adjusted for calendar effects, the index fell by 4.6% in trend terms (working days were 20 against 19 April 2012), compared to -5.3% in March (revised figure of -5 , 2%).
BEST AND WORST AREAS - In the trend comparison, in April the growth sectors are the manufacture of computer, electronic and optical products, electrical equipment, measuring equipment and watches (+10.0%), production of pharmaceuticals basic and pharmaceutical preparations (+3.6%) and manufacture of electrical and non-electrical equipment for domestic use (+1.4%). The sector, in terms of trend, recording in April, the largest negative change is that the mining (-14.8%).
GOOD AGRICULTURE - Compared to the previous quarter, all major aggregate demand fell. With reference to domestic demand, final national consumption and gross fixed capital formation decreased, respectively, 0.3% and 3.3%, exports by 1, 9%. Imports were down by 1, 6%. The added value recorded negative short-term changes of 3.6% in construction, 0.7% in industry excluding construction and 0.4% in services, whereas it increased by 4.7% in agriculture. In trend terms, fell by 6.9% in construction, 3.2% in industry excluding construction and 1, 4% in services and has registered an increase of 0.1% in agriculture.
GIOVANNINI: "RESTORE CONFIDENCE" - The ISTAT data on the decline in industrial production "tells us how the crisis is serious and what is affecting some sectors hard," said the Minister of Labour, Enrico Giovannini, on the sidelines of the Assolombarda. "For other areas - he added - there are signs more positive although not sufficient to reverse the situation. It means that you have to recover as soon as possible the confidence and push the export companies to become more competitive. " On the negative side, continued the minister, are "a signal to work in the direction in which the Government is already working." And in this regard, he concluded, "we are preparing measures which, by June, will have components of regulatory and financial conditions for the stimulation of new jobs and, therefore, the goal is to do as soon as possible."
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