--ISAE says Italy's Nov adj orders level +9 vs rev +7 in Oct
--ISAE says Italy's Nov adj foreign orders +8 vs +8 in Oct
--ISAE says Italy's Nov adj output outlook +27 vs +25 in Oct
--ISAE says Italy's Nov adj price outlook +21 vs rev +23 in Oct
--ISAE says Italy's Nov adj industrial stocks -5 vs -6 in Oct
By Stephen Jewkes, BridgeNews
Milan--Jan. 10--Italy's producer confidence index in November rose to 105 from October's 104 mirroring a modest recovery in business activity, according to a survey released Wednesday by Istituto di Studi e Analisi Economica (ISAE). The survey shows that expectations regarding output and the general economy over the next 3-4 months are improving, while prices are seen decelerating. * * * Short-term expectations on demand, while remaining generally favorable, indicate a slight downturn over the next 3-4 months but short-term expectations on production are improving, as too are assessments of the general economy, especially among investment goods firms, ISAE said.
Producers' opinions on their order books signal a slight improvement with the November index rising to +9 from +7 in October. The rise is mainly due to domestic demand, which came in at +4 in the reference month versus +2 in October.
The production outlook component rose to 27 in November versus 25 in October while the selling price component fell back to 21 from October's revised 23 (from the previous 24).
Companies reported a modest reduction in their inventories of finished goods, the level of which however remains below normal with a balance of -5 from October's -6, ISAE said.
ISAE, controlled by the Italian Treasury, is one of Italy's leading economic think tanks. The October survey was conducted in the second half of November and the first part of December. The ISAE survey is the most comprehensive monthly report of Italian producer expectations.