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Foreign orders boost Italian industry

Foreign orders are lifting Italian industry even as the domestic economy wallows, data released on Tuesday showed, as the country tries to break out of its longest post-war recession in the fourth quarter.

Published: 19 November 2013 12:59 CET

Foreign orders boost Italian industry

Photo: Gabriel Bouys/AFP

Foreign orders of industrial products and services were up 16.4 percent in September compared to their level in September 2012 and rose 4.8 percent over the month, the official Istat agency said.

But domestic orders increased just 1.6 percent over the year and were down 0.8 percent from August, it said.

Industrial orders overall were up 7.3 percent year-on-year and 1.6 percent on the month.

Italy's Il Sole 24 Ore business daily said the data "raises optimism for the fourth quarter" when the government is forecasting that the economy will end its long decline and start growing again, albeit gradually.

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Italy expands €200 payment scheme and introduces public transport bonus

Seasonal workers, domestic and cleaning staff, the self-employed, the unemployed and those on Italy’s ‘citizens’ income’ will be added to the categories of people in Italy eligible for a one-off €200 payment, ministers reportedly announced on Thursday evening.

The one-time bonus, announced earlier this week as part of a package of financial measures designed to offset the rising cost of living, was initially set to be for pensioners and workers on an income of less than €35,000 only.

However the government has now agreed to extend the payment to the additional groups following pressure from Italy’s labour, families, and regional affairs ministers and representatives of the Five Star Movement, according to news agency Ansa.

Pensioners and employees will reportedly receive the €200 benefit between June and July via a direct payment into their pension slip or pay packet.

For other groups, a special fund will be created at the Labour Ministry and the procedures for claiming and distributing payments detailed in an incoming decree, according to the Corriere della Sera news daily.

One new measure introduced at the cabinet meeting on Thursday is the introduction of a one-time €60 public transport bonus for students and workers earning below €35,000. The bonus is reportedly designed to encourage greater use of public transport and will take the form of an e-voucher that can be used when purchasing a bus, train or metro season pass.

Other provisions reportedly proposed in the energy and investment decree (decreto energia e investimenti), which is still being adjusted and amended, include extending energy bill discounts, cutting petrol excise duty and rolling on the deadline to claim Italy’s popular ‘superbonus 110’.

The €14 billion aid package, intended to lessen the economic impact of the war in Ukraine, will “fight the higher cost of living” and is “a temporary situation”, Prime Minister Mario Draghi has said.

The Local will report further details of the payment scheme once they become available following final approval of the decree.

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