Italy: Manufacturing PMI loses ground in October
The HCOB Manufacturing Purchasing Managers’ Index (PMI) fell to 44.9 in October from Septemebr’s 46.8. Consequently, the index remained entrenched below the 50.0 no-change threshold, signaling a deterioration in business conditions in the manufacturing sector compared to the previous month.
October’s result was driven by sharper contractions in output and new orders. Moreover, firms scaled back purchasing activity heavily. Moreover, employment declined. On the price front, input prices fell at a faster pace and businesses reduced output prices more sharply. Lastly, manufacturers grew less optimistic over the outlook for future activity.
October’s result was driven by sharper contractions in output and new orders. Moreover, firms scaled back purchasing activity heavily. Moreover, employment declined. On the price front, input prices fell at a faster pace and businesses reduced output prices more sharply. Lastly, manufacturers grew less optimistic over the outlook for future activity.