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Italy industry orders rise in August after three steep monthly falls

Published 20/10/2014, 09:12
© Reuters A Maserati assembly staff member works at the Maserati car plant in Grugliasco, near Turin

Oct 20, (Reuters) - Italian seasonally adjusted industrial orders rose 1.5 percent month-on-month in August, reversing a 1.5 percent fall in July and posting their first increase since April, data showed on Monday.

Orders fell 3.2 percent in unadjusted year-on-year terms after a 0.7 percent drop the month before, national statistics office ISTAT reported.

Industrial sales rose a seasonally adjusted 0.4 percent month-on-month after a 1.1 percent fall in July, but were down a work-day adjusted 2.3 percent year-on-year.

The monthly rebound in orders in August followed three steep monthly falls and is unlikely to be seen as a real sign of recovery for Italy's stagnant economy.

Industrial output for August, issued by ISTAT earlier this month, increased 0.3 percent month-on-month after a 1.0 percent drop in July.

© Reuters. A Maserati assembly staff member works at the Maserati car plant in Grugliasco, near Turin

ISTAT gave the following details on orders and turnover in August and the previous two months.

(Reporting by Gavin Jones)

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