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Highlights from PMI press release

ITALY DATA
  • "Job losses signalled for first time since August 2020"
  • "Several panellists signalled the non-replacement of leavers at their plants.... Another factor leading to a reduction in employment was the presence of spare capacity within the manufacturing sector."
  • "Output and new orders again fell at severe rates, with market demand reported to be subdued."
  • " Faced with an excess of supply over demand, vendors were increasingly willing to lower prices, and the net impact was again a noticeable drop in overall input prices for manufacturers. Similarly, reduced demand and higher competition led panellists themselves to cut their own charges markedly in August."
  • "Despite another challenging month, confidence amongst manufacturers improved to a four-month high."
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