Monday, September 24, 2018
 

Monthly GDP: August 2017

Strong IP points to robust GDP growth in Q3

Industrial production in August recorded a sharp increase of 1.2% m/m, driven mainly by the ongoing strengthening of capital goods (+2.2% m/m) and intermediate consumption (+2.4% m/m) and by the robust result of the energy component (+4.6% m/m). On balance, although August data could be significantly affected by seasonal adjustments, the higher-than-expected print of business surveys and the encouraging signals from production indicators confirm the positive momentum in industrial activity and point to solid growth also in the next months. Consistent with this scenario, monthly real GDP is estimated to grow by 0.27% month-on-month and 1.73% year-on-year.

Data and comment

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