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Industrial revenues fall 3.8% in 2013, says Istat

Factory orders in Italy also weak, dropping 1.3%

20 February, 10:42
Industrial revenues fall 3.8% in 2013, says Istat (ANSA) - Rome, February 20 - Industrial revenues fell by 3.8% in 2013 compared with the previous year, national statistical agency Istat said Thursday. At the same time, new factory orders fell by 1.3%. Revenues from industry slid by 0.3% on a monthly basis in December compared with November, due to weak demand inside Italy, the agency said.

Meanwhile, new industrial orders slipped in December by 4.9%, Istat said.

Growth was reported in manufacturing of pharmaceutical products last year, which rose by more than 18%, while the largest drop was recorded in refining petroleum products, down by 12.4%.

The report suggests lingering weakness even as the Italian economy is reportedly pulling out of its deepest recession since the Second World War.