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Italian Industrial Orders Recover In May

Italy's industrial orders recovered as expected by economists in May, the statistical office Istat said Thursday.

Driven by both domestic and foreign demand, industrial orders grew by a seasonally adjusted 1.7 percent from a month ago, following a revised 1.8 percent fall in the prior month. The increase matched economists' expectations.

Demand from domestic market rose 1.6 percent and non-domestic market orders climbed 2 percent.

Data showed that industrial turnover dipped 0.5 percent month-on-month due to a 1.5 percent decline in domestic turnover. Meanwhile, non-domestic market turnover was up 1.7 percent.

On an annual basis, industrial new orders fell 9.4 percent in May and industrial turnover dropped 2.7 percent.

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