Production volumes and new orders fell, although the pace slowed towards the end of the year, both marking the ninth consecutive month of declines, giving a better picture of Italy’s manufacturing industry as a whole. HCOB points out:
“Italian manufacturing ended the year with a lackluster quarter. Although the HCOB PMI rose slightly in December to 45.3, there were no signs of hope and the situation worsened from the previous month. We attribute the weak production to sustained demand weakness across sectors. Italy’s industrial production is expected to contract in the final quarter, according to HCOB Nowcast.
“Italian industry is in a bit of a difficult situation. Production volumes have fallen sharply and purchases are on a downward trend. There seems to be little backlog of work in the industry. Jobs have been steadily shrinking for a year and a half. .now.
“There seems to be a glimmer of hope for Italian industry. At least the employment front has not suffered any further damage and inputs are becoming cheaper day by day. The reason for the decline in inflation is energy Italy’s industry has particularly benefited from the slowdown in global manufacturing demand, which many blame on a decline in raw materials prices.
“The outlook for Italian industry looks a little gloomy. Orders, whether domestic or international, have fallen sharply. Compared to the previous month, future production forecasts have increased slightly, but this is not completely canceling it out. isn’t it” “