MNI BRIEF: Sticky Services Inflation Might Be Structural - ECB

MNI BRIEF: EC Gets Flexible As NGEU Payment Deadline Looms

RPT-MNI SOURCES: ECB To Keep Meeting-By-Meeting Even After Cut

MNI China Daily Summary: Thursday, October 10

MNI: PBOC Net Drains CNY142 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.0742 Thurs; +3.18% Y/Y

MNI: US JOBLESS CLAIMS +33K TO 258K IN OCT 05 WK

MNI: US SEP CPI UNROUNDED M/M 0.180%, CORE 0.312%

MNI: US SEP CPI 0.2%, CORE 0.3%; CPI Y/Y 2.4%, CORE Y/Y 3.3%

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ITALY DATA: Manufacturing Activity Still Subdued, But 3m/3m IP Highest In A Year

ITALY DATA
Homepagemarkets-real-timeCEEMEAEurozoneData BulletItalyBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Italian manufacturing activity remains subdued, but 3m/3m industrial production growth nonetheless printed its highest since September 2023 at -0.14% in August.

  • August IP was a little weaker than expected at 0.1% M/M (vs 0.2% cons). July’s reading was also revised a tenth lower to -1.0%.
  • The modest recovery in IP has not yet been reflected in manufacturing surveys though. ISTAT manufacturing confidence fell to 86.7 (vs 87.0 prior) in September, still below the 2000-2019 average of 91.0. Meanwhile, the manufacturing PMI has been in contractionary territory for 18th consecutive months.
  • Of the major sub-components, only durable consumer goods and energy saw positive 3m/3m growth. Overall consumer goods production was -0.2% 3m/3m for the second consecutive month.

 

114 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Italian manufacturing activity remains subdued, but 3m/3m industrial production growth nonetheless printed its highest since September 2023 at -0.14% in August.

  • August IP was a little weaker than expected at 0.1% M/M (vs 0.2% cons). July’s reading was also revised a tenth lower to -1.0%.
  • The modest recovery in IP has not yet been reflected in manufacturing surveys though. ISTAT manufacturing confidence fell to 86.7 (vs 87.0 prior) in September, still below the 2000-2019 average of 91.0. Meanwhile, the manufacturing PMI has been in contractionary territory for 18th consecutive months.
  • Of the major sub-components, only durable consumer goods and energy saw positive 3m/3m growth. Overall consumer goods production was -0.2% 3m/3m for the second consecutive month.