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Italy PMI March 2023

Italy: Manufacturing PMI declines in March

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) dipped to 51.1 in March from February’s 52.0. Consequently, the index remained above the 50.0 no-change threshold, signaling an improvement in business conditions in the private sector compared to the previous month.

March’s result was driven by reduced purchasing activity and falling inventories. That said, employment, output and new orders continued to increase. Moreover, supply constraints eased, and business confidence moved further into optimistic territory amid dissipating price pressures. On the price front, input costs fell from the previous month. As a consequence, firms cut their prices for the first time since October 2020.

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