27.09.201605:35:00UTC+00Italy Industrial Orders Plunge In July

Italy's industrial orders declined markedly in July, after rebounding strongly in the previous month, figures from the statistical office Istat showed Tuesday.

New orders fell a seasonally adjusted 10.8 percent month-over-month in July, reversing a 14.3 percent surge in June.

The decline in July was caused by a 22.8 percent slump in export orders. At the same time, domestic demand grew 0.8 percent over the month.

On an annual basis, industrial orders dipped 11.8 percent in July, in contrast to a 7.7 percent gain in the preceding month.

The statistical office also revealed that industrial sales rebounded 2.1 percent monthly in July, following a 1.2 percent drop in June.

Yearly, industrial turnover slid 0.7 percent in July, much slower than previous month's 5.4 percent decline.