--Nov Result: Nsa Orders +5.3% Y/Y (+2.0% Domestic, +10.6% Foreign)
--Nsa Turnover +10.0% Y/Y (+9.3% Domestic, +11.4% Foreign)
--Oct Result: Nsa Orders +15.2% Y/Y (+13.5% Domestic, +18.1% Foreign)
Nsa Turnover +11.8% Y/Y (+11.5% Domestic, +12.5% Foreign)
--ISTAT: NSA Nov Y/Y Low Domestic Orders Rise 'Due to Seasonal Factors'

By Giorgio Schiavoni

ROME (MktNews) - The rise in Italian industrial orders in November slowed slightly more than expected, posting an unadjusted 5.3% on the year, after a 15.2% surge in October, according to data released Friday by the national statistics institute, ISTAT.
MNI's monthly survey had expressed a median projection of +6.9%, within a forecasting range of +4.6% to +13.8%.
An ISTAT spokesperson noted that "November is never a very good month for domestic orders," which rose a meagre 2.0%, after October's 13.5% rise. Foreign orders, however, rose a firm 10.2%, but were lower than the 18.1% posted in October.
The orders data suggests that the Italian industrial sector slowed in the second half of 2000 after a strong first half, although the slowdown may be less sharp than previously thought.
ISAE's business confidence survey for November showed a fall but industrial output for that month showed a healthy gain. Forward indicators also point to more good output results in December and January.
In November, the strongest unadjusted annual rises in orders were posted by the textile sector, up 13.4%, the metal processing sector, up 11.6%, and the furniture production sector, up 11.0%.
However, synthetic and artificial production sector fell 11.2%, the transport sector fell 4.0% and the electric appliances production sector fell 1.4%.
The recently introduced seasonally adjusted month-on-month orders data showed November's orders in fact fell 2.2%. Domestic orders were down 4.8% on the month but orders from abroad rose 1.5%.
ISTAT's statisticians always place more emphasis on the unadjusted year-on-year numbers than on the seasonally adjusted month-on-month series.
As for industrial turnover, ISTAT reported that in November it rose an unadjusted annual 10.0%, after an increase of 11.8% in October. Domestic turnover increased 9.3%, while foreign turnover was up 11.4%.
The ISTAT spokesperson described the overall turnover rise as "slowing from October's (result) but nonetheless good," even though it is not adjusted for producer prices, which rose an annual 6.7% in November.
Seasonally adjusted month-on-month turnover rose 2.2%. Domestic turnover was up 2.1% on the month, while foreign turnover rose 2.4%.