A sunny August for the Italian industry. According to the latest Istat data, two months ago the turnover in our country it grew by 4% on a cyclical basis and even by 12% on a trend basis (data corrected for calendar effects). However, the statistical institute points out that "August is a very fragile month from the point of view of the level of the index, because companies close and go on holiday, so it is enough to close a few days less and the index rises". So "to see if the August data is a sign of something else, we will have to wait for the September data".
On a monthly basis, turnover recorded increases of 3,8% on the domestic market and 4,6% on the foreign market. Between June and August, the index increased by an average of 0,4% compared to the previous three months. On an annual basis, however, the turnover recorded increases of 12,3% on the domestic market and 12% on the foreign market. The sectors of economic activity for which, compared to August 2010, the greatest increases in total turnover were recorded are those of the manufacture of machinery and equipment nec (+24,5%) and of the manufacture of coke and refined petroleum products (+20,5 .XNUMX%).
The Italian performance was also very good on the front of the orders, which in August grew by 5% over July, while compared to August 2010 the increase was 10,5%. On average over the last three months, however, the figure fell by 1% compared to the previous quarter. The sectors for which the greatest trend increases are recorded are the manufacture of means of transport (+84,3%) and for the textile, clothing, leather and accessories industries (+14,1%).
Narrowing the target to the auto market alone, in August the turnover of the sector rose by 35% on an annual basis, while orders increased by 8%.
