Total orders for industry in Italy dropped 2.9 percent over a month earlier in July 2019, following an upwardly revised 1 percent fall in the previous month and missing market expectations of a 1.9 percent gain. It was the biggest decline in industrial orders since January last year, as domestic demand went down 4.2 percent, after increasing 0.9 percent in June. Meanwhile, foreign demand decreased at a softer pace (-0.8 percent compared to -3.8 percent in June. Year-on-year, new factory orders declined 1 percent, after an upwardly revised 4.9 percent fall in the prior month and compared with forecasts of a 2.6 percent decrease. At the same time, industrial sales went down 0.6 percent over a year earlier and fell 0.5 percent month-over-month. Factory Orders in Italy averaged 0.23 percent from 1990 until 2019, reaching an all time high of 14.30 percent in August of 1994 and a record low of -12.30 percent in November of 2008.
Factory Orders in Italy is expected to be -2.40 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 0.80 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.