The PMI index on Italian manufacturing collapsed in October to a 28-month low scoring a value of 43,3 from 48,3 in September, well below analysts' expectations of 47,1. At the root of the decline, the marked decrease in production in a context of weak domestic and foreign demand.
We are thus facing the third consecutive month in which manufacturing activity in Italy, according to the PMI Markit/Adaci index, stands below the threshold of 50, the watershed between a situation of growth (above) and recession (below).
For the Eurozone, the PMI index fell to 47,1 points in October, from 48,5 in September. A greater decline than the expectations of economists, who expected a drop to 47,3. As regards individual countries, Germany saw the value drop from 50,3 to 49,1 (estimates at 48,9), while in France the index rose from 48,2 points in September to 48,5 , however always below the estimates (49 points).
