Markets were already down into this news, but this won’t help sentiment at all.
Industrial orders for January in Italy fell 7.4% in January, a decline that’s far steeper than the expectations of a 3.2% decline.
Of course, this is January data, so it’s already a bit stale. But there shouldn’t be any doubt about the severity of the downturn.
Interestingly, the Italian market itself has bounced back a bit. It had been down 0.5%, but is now off just 0.2%.
Photo: Borsa Italiana