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Italy’s Pmi manufacturing index up after a year of contractions

After a long period of difficulty, the Italian manufacturing sector can finally breathe a sigh of relief. The Pmi Hcob Italy Manufacturing Purchasing Managers’ Index registered 50.4 in March, up from 48.7 in February, signaling a slight expansion in manufacturing activity. This marks the first time since March 2023 that the index has crossed the critical 50-point threshold separating contraction from expansion.

Commentary by Tariq Kamal Chaudhry, economist at Hamburg Commercial Bank, which compiles the index in collaboration with S&P Global, reflects the sense of optimism that pervades the Italian manufacturing sector: “After almost a year of difficulty, the Pmi Hcob has emerged from the contraction zone. At 50.4, Italy joins Spain as second among the four largest European economies in registering expansion. Manufacturing has seen a significant jump from previous months.”

Link: https://www.fortuneita.com/2024/04/02/indice-pmi-manifatturiero-dellitalia-in-crescita-dopo-un-anno-di-contrazioni/

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