Italy PMI November 2022

Italy

Italy: Manufacturing PMI ticks up in November

December 1, 2022

The S&P Global Manufacturing Purchasing Managers' Index (PMI) rose to 48.4 in November from October's 46.5. Although the index remained entrenched below the 50.0 no-change threshold, this increase signaled a less marked deterioration in business conditions in the private sector compared to the previous month.

November’s result was driven by softer contractions in new orders and production. While business confidence remained downbeat, it improved from October amid hopes of a recovery in demand. On the price front, the pace of input cost inflation slowed to the lowest level since October 2020, although it remained relatively high due to high energy and material costs. As a consequence, firms raised their prices at a more moderate pace.

FocusEconomics Consensus Forecast panelists see fixed investment increasing 0.4% in 2023, which is unchanged from last month’s estimate. For 2024, the panel expects fixed investment to increase 1.4%.


Author: Massimo Bassetti, Senior Economist

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Italy PMI Chart


Italy PMI November 2022

Note: S&P Global Purchasing Managers’ Index. Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: S&P Global.


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