The real-time index of the growth of the Italian economy ‘Rtt’ detected by the Confindustria study center “records a significant decline in November 2024 (-3.4%).
The indicator shows the greatest reductions in services and industry, while construction continues to grow moderately.”
Rtt’s aggregate data for the Italian economy “in November indicates a decline in turnover at constant prices of companies, equal to -3.4%, which corrects the level downwards after the leap in October”, observes Confindustria.
The decline in industry, -5.1% in November, “almost entirely cancels the increase of the previous month” and “in services the trend is similar, but the downward correction (-3.7%) is less strong from the jump. Therefore, the change acquired for the 4th quarter is negative for industry (-0.9%), positive for services”.
However, for the fourth quarter the index “suggests a positive dynamic (+2.1% acquired) after the decline recorded in the third (-1.3%)”. The ‘Real Time Turnover Index’ of the economists of via dell’Astronomia records on a monthly basis the dynamics of the volume of activity based on the turnover recorded on the sample of TeamSystem client companies. In construction, “RTT continues the phase of moderate increase (+0.9% in November), indicating expansion for the fourth quarter”.
Looking at macro-areas and company sizes, “Rtt recorded a decline in all areas in November, after the increases in October; a strong decline occurred in the North-West, where the increase in the previous month was larger. The decline is significant in the Center (-2.3%), moderate in the North-East (-1.0%) and in the South (-0.7%). The change acquired in the fourth quarter remains positive in all areas, wider in the North-West (+2.7%)”.
For large businesses, “RTT indicates a strong decline in November (-4.2%), after the leap in October. Moderate declines for small businesses (-1.6%) and medium-sized businesses (-1.8%) ); the change acquired for the fourth quarter is positive for the former, which grew significantly in October, while it is negative for the latter”.