Italian industry collapses in September (net of seasonality), even if it holds up on an annual basis, counting the most working days and thanks to the exploits of the first semester. But we are far from the pre-crisis values of 2008.
Industry turnover in September decreased by 5,4% on the domestic market and 5,3% on the foreign market. Istat detects it, emphasizing that it is the worst economic data since November 2008.
Corrected for calendar effects (working days were 22 as in September 2010) the total turnover instead grows on an annual basis by 1,9% with a zero change on the domestic market and an increase of 6,2% on the foreign market.
The seasonally adjusted turnover indices show a cyclical increase of 0,7% for energy and decreases of 10,4% for capital goods, 6,4% for intermediate goods and 1,5% for consumption.
In the trend comparison, the largest contribution to the growth in turnover comes from the foreign component of intermediate goods. In terms of turnover, the sector of economic activity for which the greatest trend increase is recorded is that of the manufacture of coke and refined petroleum products (+12,9%).
In September industrial orders decreased by 8,3% (seasonally adjusted figure) compared to the previous month, due to a 10,1% reduction in domestic orders and 5,5% in foreign orders. On an annual basis, the raw orders index fell by 3,6%.
