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MNI: ITALY DATA: Industrial Orders (Mar 2019)........>

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MNI: ITALY DATA: Industrial Orders (Mar 2019) Preview - 09:00 BST
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- Previous (Feb): -2.7% m/m, -2.9% y/y
- After declining for four consecutive months, Italian industrial orders
rebounded by 2.1% m/m in Jan...
- ... before plummeting 2.7% in Feb on a sharp fall in foreign orders (-6.0%)...
- ... while domestic orders fell back by a milder 0.4%
- On a less volatile 3m/3m basis, orders were down by 1.3% in Dec-Feb
- With average industrial production in Jan & Feb up 1.3% on Q4... 
- ... Italy's industrial sector looks to have been a key driver of the rebound
in Q1 GDP growth (flash: +0.2% q/q)
- However, the level of industrial output remains around 20% below its pre-2008
financial crisis peak...
- ... and more timely indicators suggest a feeble near-term outlook... 
- ... the Apr manufacturing PMI, for example, recorded a decline in new orders
for the ninth month in a row

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