Italian industrial orders plunge 10pc

RIFCROME: Industrial orders in Italy plunged by 10 percent in March on a 12-month comparison but rose by 1.6 percent from February, new data showed on Monday, as Italy suffers its longest-ever recession.

Foreign orders increased by 3.6 percent from the previous month but fell 6.1 percent year-on-year, while domestic orders were up 0.2 percent over the month and down 13.2 percent for the year.

Italian industrial production dipped by 0.9 percent for the month and 7.6 percent for the year, according to the official statistics agency Istat.

Italy entered recession in 2011 and forecasts point to only a gradual recovery in 2014.