Rome [Italy], August 31: Industrial turnover in Italy slumped in June, the government's main statistics entity reported Tuesday. However, in value terms it was higher than a year earlier, largely due to higher prices for energy and transportable goods.
The overall decline in June was the first of the year, after five consecutive months of growth.
Italy's National Institute of Statistics (ISTAT) said that overall industrial turnover was down 0.2 percent compared to a month earlier, with a similar impact from both domestic and foreign markets. For the second quarter of the year, however, turnover was 6.2 percent higher than in the previous quarter.
Nevertheless, in revenue terms, turnover was 18 percent higher in June. There was a 19.1-percent rise for domestic markets and a 15.7-percent increase for foreign markets, ISTAT said.
This development was due in large part to increases for energy goods, which grew 68.4 percent, with secondary impacts on intermediate goods and consumer goods, both of which face increased production and transport costs due to higher energy prices.
Industrial turnover is a measure of inventories categorized by the industrial sector. It can be a leading indicator of future economic growth levels.
Source: Xinhua