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Italian manufacturing sector in deepening downturn
Italy’s manufacturing sector rounded off a challenging second quarter of the year by registering its worst fall in output since the height of the COVID-19 pandemic in 2020. New orders were down sharply, whilst firms cut back on their purchasing to a severe degree. A lack of demand and a rapidly improving supply-side picture meant that input prices fell at a rate not seen since April 2009. Firms continued to take on additional staff, but growth slipped to a marginal pace as confidence in the outlook fell since May. After accounting for seasonal factors, the HCOB Italy Manufacturing Purchasing Managers’ Index® ... (full story)