The Centro Studi di Confindustria launched a new indicator for the Italian economy: Rtt (Real time turnover). This index was conceived and developed by Confindustria in cooperation with Teamsystem (following the collaboration with Giovani Imprenditori Confindustria).

The new index is able to estimate the dynamics of economic activity, in real time, from the turnover of 200,000 companies, with dedicated focus on macro sectors, territories and company size. Rtt index will accompany theCSC Quick Survey on the activities of large industrial companies,  which from the next issue will come out in a revamped guise.  

As pointed out Alessandro Fontana, Director of the Confindustria Studies Centre, the new index 'anticipates other economic indicators on turnover, production and GDP by at least one month; it has a high forecasting capacity for these indicators; at month t+1 it is, at the moment, the only quantitative data available on economic activity; it provides information on areas where there is none, if not a great deal of delay, such as agriculture, territories, and enterprises by size classes; it does not increase the statistical burden on enterprises, since the data are automatically derived from invoices'. Thus, the aim is greater effectiveness 'in understanding the dynamics of GDP' but also real-time monitoring sector by sector with a focus on services, construction and industry.

Raffaele Langella, Director General of Confindustria, emphasised that 'this is an important day for Confindustria, the associations and the companies in the system. Rtt is based on a system of information derived from invoices issued by companies and transiting on TeamSystem's platforms. It therefore meets the need for timeliness that other indices cannot meet and provides immediately comprehensible information, with potential for further development. This index provides a more complete picture, with more information, and makes it possible to direct the choices of companies and policymakers in greater detail. It provides useful information for economic operators and indications that can be broken down by sector and territory, it allows information to be tailor-made, without tiring businesses. In this case, the companies by carrying out their daily activities contribute to the system, without any additional statistical burden'.

For Riccardo Di Stefano, Vice President of Confindustria and President of the Young Entrepreneurs of Confindustriathe new Rtt index 'takes a new and very timely snapshot of economic trends, it is a tool that allows us to read data with absolute transparency and an unprecedented level of speed. In this complex scenario, having a useful tool such as the Rtt index is essential because never before have so many different phenomena influenced economic trends and it is difficult to make forecasts. It is a tool that helps to read the data and will make a difference'.

Rtt links https://bit.ly/RTT_gen24

Link Quick survey https://bit.ly/IR_gen24