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Italy industry orders rise in August after three steep monthly falls
October 20, 2014 / 8:11 AM / 3 years ago

Italy industry orders rise in August after three steep monthly falls

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.

A Maserati assembly staff member works at the Maserati car plant in Grugliasco, near Turin May 22, 2014. REUTERS/Giorgio Perottino

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.

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

Reporting by Gavin Jones

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