Italy Industrial Turnover Falls 1.1%

Italy's industrial turnover declined for the first time in three months in January, data from the statistical office Istat showed on Friday.

Industrial sales dropped a seasonally adjusted 1.1 percent month-over-month in January, in contrast to a 0.7 percent increase in the previous month.

Domestic market turnover fell 0.3 percent after rising 0.8 percent. Similarly, foreign market turnover decreased 2.6 percent versus a 0.5 percent gain in December.

After adjusting for calendar effects, turnover grew 8.6 percent annually in January, well below the 14.9 percent surge in the prior month.