Italian industrial output edges up as margins come under pressure
Italian industrial output rose 0.4% in the first eight months of 2026 compared with the same period in 2025, according to a report presented by Intesa Sanpaolo and Prometeia in Milan on 9 November. Germany fell 2.5% and France rose 0.2% over the same period. The comparison uses unadjusted figures.
The report estimates that manufacturing gross operating margins will fall from 10.7% of turnover in 2025 to 10.1% in 2026 and 9.9% in 2027. The figures suggest that output can hold up even as manufacturers retain less of each euro in sales.
Istat is due to release September industrial production figures on 11 November, providing a clearer view of how the third quarter ended.
Intesa Sanpaolo and Prometeia report: https://group.intesasanpaolo.com/it/newsroom/comunicati-stampa/2026/11/intesa-sanpaolo--presentato-insieme-a-prometeia-il-rapporto-anal