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Italian Industrial Orders Tumble More Than Forecast

Italian industrial orders declined more than expected by economists in February, data from the statistical office Istat showed Thursday.

New orders dropped 13.2 percent on an unadjusted year-on-year basis in February. The decline was worse than expectations for a 6.2 percent dip.

On a seasonally adjusted month-on-month basis, orders decreased 2.5 percent compared to forecast of 1.1 percent fall. Orders from the domestic market fell 4.9 percent, while export orders grew 1.1 percent.

The industrial turnover index decreased 1.5 year-on-year on a calendar adjusted basis. Month-on-month, the seasonally adjusted index rose 2.3 percent.

by RTTNews Staff Writer

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