Stefano Di Colli

RTT, constructed on the basis of seasonally adjusted and deflated turnover data from TeamSystem's sample of client companies, shows a strong increase in April (+5.1%). The indicator shows increases in all sectors, larger in services and industry.

The RTT aggregate figure for the Italian economy

• In April, RTT indicated a rebound in turnover at constant business prices of +5.1% (Chart 1), after a flat performance in March.
• Thanks to this recovery, RTT suggests for Q2 2025 an acquired positive change in turnover, after a negative Q1.

RTT for production macro-sectors

• The increase of RTT in industry (+5.5% in April) signals two consecutive positive months in the sector.
• In services, the increase was slightly higher in April (+5.9%), but came after a decline in March (Chart 2).
• The change for Q2 2025 is positive in both industry and services, after a negative Q1 in both sectors.
• In construction RTT shows a more moderate increase (in April +1.7%), after the barely positive figure in March; the change is also positive for Q2 (+1.7%), the fourth in a row.

RTT for macro-areas and enterprise size

• RTT in April increased in all geographical areas, strong in the North-West (+5.9%), moderate in the South (+0.9%; Chart 3).
• Therefore, the changes for Q2 are positive in all areas of the country, although the one observed in the South is very moderate (+0.2%).
• RTT indicates increases in turnover for all sizes of companies in April: very large for large, also significant for small and medium-sized.
• The change for Q2 is therefore positive for all size classes, but with marked differences in size: large companies are much better off than medium-sized ones.