© Reuters. FILE PHOTO: Employees work at a ceramics factory where the workers start their shifts before dawn to optimise sunlight and save energy, in Citta di Castello, Italy, August 30, 2022. REUTERS/Jennifer Lorenzini/File Photo
The HCOB Global Purchasing Managers' Index for Italian manufacturing fell to 44.9 from 46.8 in September, again coming in well below the 50 mark that separates growth from contraction and posting the lowest reading for three months."The recession in the manufacturing sector steepens ... manufacturing is set to decline 0.5% in the fourth quarter of 2023," said HCOB economist Norman Liebke.
"Italian manufacturers are stuck in a rut with weak demand. Uncertainty surrounding the economic climate is clearly weighing on order book volumes, which shrank for the seventh month running," Liebke said.
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