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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.
ITALY DATA
ITALY JUL MANUF PMI 44.5 (FCST 44.3); JUN 43.8
- Italian manufacturing PMI recovered modestly in July at 44.5 versus 44.3 in June, and bested consensus of 43.8, but the sector remains firmly in contractionary territory.
- This was the 4th consecutive month, and the 10th in 13, below the 50 level.
- As with elsewhere in the Eurozone, the HCOB / S&P Global report noted weakness in both output and new orders (noted to be falling at "historically steep rates amid evidence of a challenging market environment").
- Despite poor demand conditions, hiring continued, "in part reflecting the fulfilment of long-held vacancies and some confidence in the future" - the latter including expected recovery of demand over the next 12 months.
- But overall, the weakness in activity translated into very disinflationary conditions: input and output costs fell the most in over 14 years as there was a "broad-based correction in input prices" and "strong market competition and a willingness to pass on cost savings to clients".
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.
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