Italian manufacturing suffers Ongoing decline, signaling deep industrial recession
(MENAFN) Italy's industrial sector continues to grapple with a protracted downturn, with factories in the country facing six consecutive months of decline, as reported by Bloomberg. The concerning trend is indicative of a deepening industrial recession, according to a survey conducted by S&P Global.
The survey relies on an index derived from responses provided by purchasing managers (PMI), which stood at 46.8 in September, reflecting a modest improvement from the previous month's figure of 45.4. Nevertheless, this index remains well below the pivotal threshold of 50, signaling a sustained contraction in Italian manufacturing.
The Italian manufacturing landscape, in particular, has been enduring a challenging period marked by a lack of new orders. This situation stems from weakening global demand, which has placed considerable strain on the country's industrial sector.
The persistent decline in manufacturing activities underscores the formidable challenges faced by Italy's economy and its industrial base, prompting concerns about the need for potential measures to stimulate growth and revitalize the manufacturing sector.
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