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Financial News: Italy's Industrial Orders Surge In May

Italy's Industrial Orders Surge In May

07/17/2020 - 06:07:00 (RTTNews)

(RTTNews) - Italy's industrial orders and turnover increased sharply in May after the relaxation of the coronavirus containment measures, data from the statistical office Istat showed Friday.

Industrial orders surged 42.2 percent on a monthly basis in May, in contrast to a 31.6 percent fall in April.

Orders from domestic market rose 55.9 percent and that from foreign market increased 26.2 percent in May. Similarly, industrial turnover advanced 41.9 percent on month, reversing a 29.8 percent drop a month ago.

Year-on-year, industrial orders dropped 34.7 percent, following a sharp decline of 48.6 percent in April. Likewise, the decline in industrial turnover eased to 25.9 percent from 47.2 percent in the previous month.

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