Confindustria: 'Economic activity declines again in January' The Real Time Turnover Index of the Confindustria study centre is based on companies' electronic invoicing data (on a sample of TeamSystem customers) It records "a moderate decline in turnover at constant business prices, equal to -0.4%" after +1.6% in December. "The overall decline - explain the economists on Via dell'Astronomia - is due to construction, compared to positive data for services and industry"