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Italy Industrial Turnover Recovers; PPI Inflation Remains High

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Italy’s industrial turnover recovered in January and producer price inflation remained at an elevated level in February, data from the statistical office Istat showed on Wednesday.

Industrial turnover grew 2.3 percent on month, in contrast to the 2.0 percent fall in December. Turnover in both domestic and foreign markets rebounded in January.

Domestic market turnover grew 2.7 percent after falling 2.9 percent. Likewise, foreign market turnover rose 1.3 percent, reversing a 0.2 percent decrease in December.

After adjusting for calendar effects, turnover in trend terms moved up 16.9 percent annually, faster than the 14.5 percent rise in December.

In a separate communiqu?, the statistical office said producer prices logged a double-digit growth of 32.8 percent on a yearly basis in February, after posting 32.9 percent rise in January.

Prices in the domestic market surged 41.4 percent and that in foreign markets grew 10.9 percent.

On a monthly basis, overall producer prices gained only 0.4 percent, following January’s 9.7 percent increase, data revealed.

*Germany Mar Flash CPI Up 2.5% On Month, Consensus 1.6%

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