Italy’s industrial orders decline sequentially in September

Italy’s industrial orders rose at a slower pace on a year-on-year basis in November. The industrial new orders index rose 2.6 percent year-on-year in September 2016, as compared with the upwardly revised year-on-year rise of 16.5 percent in August, showed Italy’s official statistics office Istat. The August month’s figure was upwardly revised from 15.9 percent.

On a seasonally adjusted basis, Italy’s industrial new orders in September dropped 6.8 percent sequentially, as compared with the rise of 10.7 percent in August. The month-on-month figure of August was also upwardly revised from 10.2 percent. The percentage change of the average of the last three months compared to the previous three months came in at 1.7 percent, noted Istat.

Meanwhile, the Industrial turnover index dropped 0.3 percent year-on-year in September, as compared with the rise of 7.1 percent recorded in August. The calendar adjusted industrial turnover index for August was also upwardly revised from 6.8 percent. On a sequential basis, the turnover index dropped 4.6 percent in September, as compared with the rise of 4.2 percent in August. The August print was upwardly revised from 4.1 percent.

The percentage change of the average of the last three months compared to the prior three months was 2.3 percent, stated Istat. Meanwhile, the seasonally adjusted turnover index for the manufacture sector dropped 4.5 percent sequentially in September.