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Italy PMI April 2023

Italy: Manufacturing PMI falls in April

The HCOB Manufacturing Purchasing Managers’ Index (PMI) dropped to 46.8 in April from March’s 51.1. Consequently, the index moved below the 50.0 no-change threshold, signaling a deterioration in business conditions in the private sector compared to the previous month.

April’s result was driven by contracting production and falling new orders. Moreover, purchasing activity was scaled back amid destocking. That said, employment continued to increase at a sustained pace. Moreover, supply constraints eased further, and business confidence remained in optimistic territory amid dissipating price pressures.

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