Fade slope statistics for negative and positive slopes are presented which are obtained by propagation measurements of the 40 GHz beacon signal of the Italian satellite ITALSAT. Especially, the fade slope and the 3 dB time duration introduced here are evaluated. Measured, fade slopes of up to 3.2 dB/s were recorded. However, in 99.99% of the fading event time the fade slopes are < 1.9 dB/s.