The HBOC Italy Manufacturing PMI edged higher to 44.5 in July of 2023 from the three-year low of 43.8 in the previous month, ahead of market estimates of 44.2 but remaining deep in the contractionary territory for the fourth consecutive month. New orders, factory production, and backlogs fell at historically steep rates in the period, with surveyors citing client uncertainty, destocking tendencies, and low overall demand from both domestic and foreign sources. Consequently, manufacturers also cut purchasing activity at a historical rate. Still, job growth was maintained at its current positive trend, extending the period of headcount gain to nearly three years. In the meantime, the preference to use inventory inputs and low demand for resources drove input costs to fall at the sharpest degree on survey record. Looking ahead, factories retained a positive outlook for future activity and expect market demand to steadily recover, supported by the investment and release of new products. source: Markit Economics
Manufacturing PMI in Italy averaged 52.13 points from 2012 until 2023, reaching an all time high of 62.80 points in November of 2021 and a record low of 31.10 points in April of 2020. This page provides the latest reported value for - Italy Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.
Manufacturing PMI in Italy is expected to be 46.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Manufacturing PMI is projected to trend around 53.60 points in 2024 and 52.50 points in 2025, according to our econometric models.