Italian Manufacturing Contracts in October
Italy manufacturing activity fell back into contraction in October as the purchasing managers index declined to 49.4. Cost pressures mounted amid supply chain disruptions, while employment levels also dropped.
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Xurve View
Italy's manufacturing sector contracted unexpectedly in October as output fell to 47.3, dropping below the 50 threshold. The downturn broke two consecutive months of expansion across the euro zone's third-largest economy. Higher input costs and fading demand weighed on factory activity ahead of the winter quarter.
