Italy's industrial output rebounds more than expected

In September 2026, Italy's industrial output rebounded by 1.2% month-on-month, exceeding market expectations of 0.7% growth and recovering from a 1.2% decline in August. The growth for the month was mainly driven by capital goods and intermediate goods, with the former increasing by 1.3% and the latter by 1.2%. Consumer goods and energy, however, fell by 0.2% and 1.4%, respectively. Year-on-year, industrial output slipped slightly by 0.1%. Energy production saw the largest increase at 4.7%, followed by capital goods at 2.1%, while intermediate goods and consumer goods declined by 1.4% and 3.0%, respectively. By industry, transport equipment manufacturing rose by 7.3%, and electricity and natural gas supply increased by 5.8%. Chemical production experienced the largest drop, falling by 8.3%, indicating that despite the month-on-month rebound in September, some sectors of Italy's industry remain persistently weak. Meanwhile, output in the third quarter decreased by 0.4% compared to the average of the previous three months.