By
Reuters
Revealed
January 3, 2025
Italian manufacturing exercise contracted for a ninth month operating in December albeit at a slower tempo than the month earlier than, a survey confirmed on Thursday, amid persisting declines in output and new orders.
Reuters
The HCOB International Buying Managers’ Index (PMI) for manufacturing climbed to 46.2 from November’s 12-month low of 44.5, remaining effectively beneath the 50 mark that separates progress from contraction.
Nonetheless, it was above a median forecast of 44.9 in a Reuters survey of 9 analysts.
“The Italian manufacturing sector remains in a challenging situation at the end of the year. The sector continues to struggle with weak demand from the eurozone, high energy costs, and significant issues in the automotive sector,” stated HCOB economist Jonas Feldhusen.
The manufacturing output sub-index rose to 46.9 from 43.3 the month earlier than, whereas the brand new orders indicator elevated to 44.2 from a earlier 41.9.
Italian Financial system Minister Giancarlo Giorgetti stated final month that the euro zone’s third-largest financial system would seemingly finish 2024 with a progress charge of 0.7%, beneath the official authorities goal of 1%, noting the deepening droop within the industrial sector.
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