Italian industrial orders jump at the end of 2016

Italian industrial orders jumped in December, driven by strong domestic demand, although sales were strongest abroad.

Total orders grew by 2.8% month-on-month as a 6.8% jump in those originating from Italy more than offset a 2.6% drop in foreign ones, ISTAT said.

Nevertheless, versus a year ago industrial orders were 0.9% weaker.

The year-on-year comparison revealed a similar split between domestic and foreign orders, with the former rising by 10.3% and those from overseas shrinking 13.5%.

In parallel, total sales were higher by 2.6% on the month in December and 6.0% higher in annual terms.

On the other hand, there was little difference in the split between domestic and foreign sales.

Against November, sales to clients overseas were much stronger, rising by 5.4% versus a 1.1% gain in domestic sales.

Yet in terms of annual rates of growth domestic sales grew 5.1% and foreign ones by 7.7%.