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Italy PMI November 2023

Italy: Manufacturing PMI loses ground in November

The HCOB Manufacturing Purchasing Managers’ Index (PMI) fell to 44.4 in November from October’s 44.9. 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.

November’s result was driven by sharper contractions in output, stocks of purchases and employment. Meanwhile, new orders fell at a softer pace. On the price front, input prices fell at a faster pace and businesses reduced output prices less sharply. Lastly, manufacturers grew more optimistic over the outlook for future activity.

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