Italy Industrial Orders, Turnover Fall For Second Month

Italy Industrial Orders, Turnover Fall For Second Month

Italy's industrial orders dropped for a second straight month in July and at the fastest pace in six months, data from the statistical office ISTAT showed Tuesday.

Industrial orders dropped a seasonally adjusted 2.3 percent from the previous month, when they fell 1.5 percent. In May, orders grew 3.3 percent.

The latest decline was the biggest since January's 4.7 percent fall.

On a non-seasonally adjusted basis, orders grew 2.8 percent year-on-year after a 2 percent rise in June. In May, orders increased 4.6 percent.

Domestic market orders shrunk 2.5 percent month-on-month, but rose 4 percent from a year ago. Foreign demand dropped 1.9 percent monthly, while it grew 1 percent year-on-year.

Industrial turnover decreased a seasonally adjusted 1 percent from June, when there was a 0.3 percent decline. Turnover shrunk for a second straight month.

On a year-on-year basis, industrial turnover grew an unadjusted 2.9 percent in July after a 4.7 percent gain in June.

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