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Italy industry orders stagnate in October after September drop

Published 19/12/2014, 09:04
© Reuters. A Maserati assembly staff member works at the Maserati car plant in Grugliasco, near Turin

(Reuters) - Italian industrial orders edged up a marginal 0.1 percent in October after dropping 1.5 percent in September, offering little prospect of a near-term recovery for the recession-bound economy, data showed on Friday.

Orders fell 0.2 percent in unadjusted year-on-year terms after a 0.4 percent drop the month before, national statistics office ISTAT reported.

The figures are the latest in a string of data suggesting Italy's economy, which has posted no growth for the last three years, is unlikely to rebound in the fourth quarter.

Industrial sales rose 0.4 percent month-on-month after a 0.4 percent fall in September, but were down a work-day adjusted 0.7 percent year-on-year, posting the fifth consecutive annual decline.

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

Industrial output for October, issued by ISTAT earlier this month, fell 0.1 percent month-on-month after a 0.9 percent drop in September.

(Reporting by Gavin Jones)

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