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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