New orders for Italy's industrial goods dropped 0.3 percent from a month earlier in November 2019, following a 0.6 percent growth in October and compared to market expectations of a flat reading. A fall in demand from the foreign market (-0.7 percent vs 1.5 percent in October) was enough to offset a slight increase in new orders from the domestic market (0.1 percent vs -0.1 percent). Year-on-year, factory orders plunged 4.3 percent, following a 1.6 percent decline in the previous month, mainly due to lower demand for electrical and non-electric domestic appliances (-25.7 percent), computers and electronics (-13.4 percent). Factory Orders in Italy averaged 0.23 percent from 1990 until 2019, reaching an all time high of 14.40 percent in August of 1994 and a record low of -12.30 percent in November of 2008. source: National Institute of Statistics (ISTAT)
Factory Orders in Italy is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Factory Orders in Italy to stand at 0.20 in 12 months time. In the long-term, the Italy Industrial New Orders is projected to trend around 0.30 percent in 2020, according to our econometric models.