Italy's industrial turnover index continues to gain in June
Source: Xinhua | 2020-08-28
Italy's seasonally adjusted industrial turnover index continued its post-coronavirus lockdown recovery in June, a report from ISTAT national statistics institute said Thursday.
The index expanded by 13.4 percent in June compared with the previous month, after jumping by 41.9 percent in May compared with April.
ISTAT said that in terms of the month-on-month increase in June, the industrial turnover index posted positive results on both the domestic market (up 13 percent) and on the non-domestic one (up 14.1 percent).
In June compared with May, the seasonally adjusted new industrial orders index rose by 23.4 percent, with domestic orders up by 26.4 percent and foreign orders adding 19.1 percent, ISTAT added.
The industrial turnover index is a business cycle indicator which measures the monthly development of turnover in the Italian industry.
"The month-on-month growth of industrial turnover continued to grow in June, confirming the recovery that started in the previous month after the relaxation of the measures linked to the health emergency that characterized March and April," ISTAT analysts commented in the report, in reference to a national lockdown that lasted from early March to early May.
However, the seasonally adjusted industrial turnover index shed 23 percent on average in the second quarter compared to the first quarter of this year, ISTAT pointed out.
As well, the new industrial orders index dropped by 22.8 percent in the second quarter compared to the first quarter this year (down 21.6 percent on the domestic market and down 24.3 percent on the foreign market).
"The comparison on a quarterly basis remains widely negative...highlighting that turnover levels are still distant from those that prevailed at the start of the year," ISTAT analysts wrote.
On a yearly basis, the calendar-adjusted industrial turnover index fell by 16.4 percent (down 15.7 percent domestic and down 17.8 percent foreign).
The unadjusted new industrial orders index contracted by 11.8 percent in June 2020 compared to June 2019. Domestic orders were down 10.1 percent and foreign orders lost 14.3 percent, ISTAT explained.
Also in terms of industrial orders, the two sectors that posted the worst results year-on-year were computers and electronics (down 17.2 percent) and the textile, clothing, leather, and accessories industry (down 38.1 percent).
Orders for pharmaceuticals (up 10.9 percent) and transportation vehicles (up 6.3 percent) bucked the trend in June this year compared to the same period last year, ISTAT said.
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