RTT, constructed on the basis of seasonally adjusted and deflated turnover data from TeamSystem's sample of client companies, recorded a moderate increase in October (+0.4%). The aggregate indicator is driven by services, while the other sectors are declining.

The RTT aggregate figure for the Italian economy

• In October, RTT indicates a slight increase in business turnover, at constant prices, after the recovery in September: the 3-month moving average remains barely positive (+0.2% in October; Chart 1).
• RTT indicates a moderately positive acquired change in turnover in Q4 2025 (+1.3%), due to the last two consecutive monthly increases.

RTT for production macro-sectors

• For industry, RTT in October indicated a moderate decline (-0.6%), after the partial recovery recorded in September (Chart 2).
• In services, on the other hand, the increase continued (+1.8%), after September's recovery had already been full.
• Thus, the change for Q4 is zero in industry, positive in services.
• In construction in October (-1.3%), the four-month period of moderate RTT increase came to an end.

RTT for macro-areas and enterprise size

• RTT in October was significantly up in the North-West, almost stable in the Centre, moderately down in the North-East and South-Islands (Chart 3).
• The change for Q4, likewise, is positive in the North-West, just above zero in the Centre, and slightly negative in the North-East and South-South.
• RTT in October recorded a strong increase in turnover for large companies, after the large rebound in September; by contrast, small and, above all, medium-sized companies were down again.
• Thus, the change for Q4 is strongly positive for large enterprises, negative for medium-sized enterprises, and close to zero for small enterprises.