Italian PMI Slumps, Job Losses Sharpest Since 2009

italy pmi

Photo: Markit

The July Italian manufacturing PMI slipped to 44.3.Economists surveyed by Bloomberg are looking for a reading of 44.1, down from 44.6 in June.

A reading below 50 signals contraction in the industry.

Key points from Markit:

  • Rate of job losses sharpest since October 2009
  • Output falls at sharp pace unchanged since June
  • Input prices drop at fastest rate in three years

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