9 February 2001, 12:22  Italy's November Factory Orders Fall 2.2% on Transport Goods

Rome, Feb. 9 (Bloomberg) -- Orders placed with Italian manufacturers fell aseasonally adjusted 2.2 percent in November from the month before asslowdown in the U.S. economy cut demand. Orders for goods ranging from shoes to machine tools rose 5.3 percentfrom a year earlier, the lowest in four months, a report by statistics instituteIstat showed. The median forecast of five economists polled by BloombergNews predicted an annual increase of 6 percent. ``The decline will be more dramatic in coming months because U.S. orderscollapsed in December,'' said Daniele Castelnuovo, an economist withBanca Akros in Milan before the report. Industrial orders in the U.S., Italy's largest trading partner outside theEuropean Union, fell to a two-year low in November and to their lowest levelin nine years in December. The orders figures suggest that weakening U.S.demand will hurt sales by European manufacturers in coming months. Luxury goods maker Bulgari SpA said sales growth will halve this year afteradvancing 40 percent in 2000 as the U.S. economy cools.STMicroelectronics NV, Europe's biggest semiconductor maker, predictedfirst-quarter sales will fall 9 percent from the previous quarter as demandweakens. ST operates a factory in the Italian island of Sicily. Foreign orders rose 1.5 percent in the month of November, the slowestpace since September, and rose 10.6 percent in the year, while domesticorders dropped 4.8 percent in the month and rose 2 percent from a yearearlier, today's report showed. Orders for transport goods such as cars and trucks fell the most, dropping4 percent in the year, while orders for precision electronics goods fell 1.4percent from a year earlier. Orders for clothing and textiles rose the most in November from a yearbefore, up 13.4 percent, followed by metals, which gained 11.6 percent. The orders index is calculated by adding the current values of the productsordered and isn't adjusted for inflation. Wholesale sales rose 2.2 percent in November and rose 10 percent from ayear earlier, Istat said.

© 1999-2024 Forex EuroClub
All rights reserved