Italy’s industrial orders up, retail sales down in Dec
Istat data showed that industrial turnover in Italy rose by 2.6% in December on a monthly basis. It posted a larger increase on a yearly basis by 9.4% in December, after a more modest rise of 3.9% in November.
However, the data showed that the country’s retail sales posted a decrease by 0.5% month-on-month in December, albeit at a slower pace than in November when it dropped by 0.7%. Italy’s retail sales were also down on a yearly basis by 0.2% after a rise of 0.8% in November. The rate of drop in December retail sales missed the estimates of an increase of 0.9%.
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