December 02, 2024 08:52 GMT
ITALY DATA: PMI Flags Muted Demand, Soft New Orders and Easing Cost Pressures
ITALY DATA
Italy Manufacturing PMI (Nov) M/M 44.5 vs. Exp. 46.0 (Prev. 46.9)
- Incoming new orders contracted at fastest pace so far this year
- Work-outstanding sub-index drops at fastest pace in 15 years
- Manufacturers that responded to the survey flagged the downturn in Germany, specifically, as being a trigger for the "steep" fall in new export orders.
- Lastly, the release flags the automotive industry as being particularly hit - mentions competition from China, as well as low demand for electric vehicles.
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