The Confindustria Study Center launches a new indicator for the Italian economy, Rtt (Realtime turnover), an index developed with Teamsystem which already collaborates with the Young Entrepreneurs of via dell'Astronomia.
It is based on the electronic invoicing system managed by TeamSystem: 400 million electronic invoices per year for 900 billion in face value.
It is thus able - it is explained - to estimate the dynamics of economic activity, in real time, starting from the turnover of 200 thousand companies, with a focus on macro sectors, territories and company size.
The new index will accompany the rapid CSC survey on the activity of large industrial companies.
As highlighted by Alessandro Fontana, the director of the research center in via dell'Astronomia, the new index "anticipates the other economic indicators on turnover, production, GDP, for at least a month", "has a high predictive capacity", is "the only quantitative data available on economic activity" within a month (other indicators, such as for confidence and PMI, are only qualitative): the aim is thus for greater effectiveness "in understanding the dynamics of GDP" but also for real-time monitoring sector by sector with a focus on services, construction and industry.
The new index "responds - underlines the general director of Confindustria, Raffaele Langella, when presenting the project - to a need for timeliness that other indices are unable to satisfy and provides immediately understandable indications", with "potential for further development": it provides "a more complete picture : an increased wealth of information; it instantly brings out the turning points, the trend reversals; it provides information that can be broken down by sector and territory, thus allowing the information to be tailored".
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