ITALY: Trade Revival

The U. S. Department of Commerce reported a trade improvement in Italy. It was stated that ” the usual Fall revival in trade has not yet taken place, but rising imports of raw materials indicate an increase in industrial activity over 1922. Railway traffic is increasing and the revival in building activity is maintained. Crops have proved larger than the preliminary estimates.

“Railway car loading in Italy has increased until it exceeds the pre-War average. The total freight tonnage from July, 1922, to May, 1923, amounted to 39,000,000 tons— an increase of 16% over the previous year. The traffic in the port of Genoa in the first eight months of 1923 amounted to 4,000,000 tons—a considerable increase over 1922.

“The Commissioner of the railways reports that satisfactory progress is being made in reorganizing the State railway systems and in reducing the number of employees. Increases have been authorized in freight and passenger rates, which are expected to yield 100,000,000 lire annually.”