The Pmi parameter (Purchasing managers index) for Italian manufacturing fell to 47,0 in August, from 50,1 in July: it is the minimum for two years. In this period the contraction continued at a faster pace, recording a decline in orders, production and employment.
Thus the 50-point threshold that separates growth from contraction has been crossed: the result for the month that has just ended is the lowest since August 2009, when Italy was in full recession. And according to the data (processed by Markit/Adaci), national manufacturing continues to lag behind most of the countries in the euro area, even if there is no brilliant news from the international scene.
Growing signs of stagnation emerge from the entire single currency bloc: the flash PMI in August recorded a drop from 50,4 to 49,7, also in this case exceeding the 50 threshold downwards. The production sub-index fell to 48,9 .50,2 from 50, showing the first reading below 2009 since July 46. Furthermore, the outlook is far from rosy, with new orders declining for the third consecutive month: the relative sub-index scores 46,9 against 47,6 .XNUMX of the preliminary reading and XNUMX in July.
