That's One 'Dreadful' Italian PMI Number

cannoli, rubirosa, gourmet to go, san gennaro festival 2011, little italy, nyc, sept 2011, dng

Photo: Daniel Goodman / Business Insider

Hard to see Italy¬† making much progress on its growth and debt fronts with numbers like these.From Markit, the Italian PMI: “Dreadful Man #PMI reading for Italy. Drops 5 pts to 43.3 (Sep: 48.3). Lowest level since June 09. Both output and order books sharply down.”

Some other numbers that are out today:

  • Spain: 43.9 vs. 43.7 the month before. Pretty ugly still.
  • France 48.5 vs. 49.0 estimates.
  • Germany: 49.1 vs. 48.0 estimates. That’s a beat, but the sub-50 number still means sequential weakness

Basically it’s all pretty ugly.

Meanwhile, from Markit, this chart of Italian PMI vs. industrial production.


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