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Italy PMI September 2023

Italy: Manufacturing PMI recovers further ground in September

The HCOB Manufacturing Purchasing Managers’ Index (PMI) rose to 46.8 in September from August’s 45.4. 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.

September’s result was driven by softer contractions in output and new orders. Moreover, firms scaled back purchasing activity. However, employment was lifted. On the price front, input prices fell sharply and businesses reduced output prices again. Lastly, manufacturers grew less optimistic over the outlook for future activity.

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