Italy Mar industrial orders fall on lack of domestic demand

Italy’s industrial orders for the month of May fell for the first time in the three months ended Mar 31, 2016 on lack of domestic demand amid significant slid in export orders.

New orders fell a seasonally adjusted 3.3 pct month-over-month in March, reversing a 0.7 pct increase in February.

Domestic demand dropped 1.5 pct over the month and export orders dipped notably by 5.8 pct.

On an annual basis, industrial orders edged up 0.1 pct in March, much slower than the 3.8 pct gain in February. It was the sixth successive monthly rise.

Data also showed that industrial sales dipped 1.6 pct monthly in March, in contrast to a 0.1 pct slight increase in the preceding month. Meanwhile, industrial turnover declined 3.6 pct in March y/y, which was worse than the 0.2 pct drop a month ago.