FX.co ★ Italy Manufacturing PMI Falls in March

The HCOB Italy Manufacturing PMI declined to 46.6 in March 2025, down from 47.4 in February and falling short of the anticipated 48. This figure indicates that the Italian manufacturing sector remains mired in a downturn, marking a year-long deterioration. Production volumes were reduced once more at the most accelerated rate observed in four months. Meanwhile, new orders continued to experience a sharp and constant decline, prompting firms to maintain a retrenchment stance. Indications also suggest that companies sought to minimize their expenditures, with reductions in both employment and spending on inputs. On the pricing front, although cost pressures eased moderately, output charges were increased for the first time in seven months, reflecting efforts to safeguard profit margins.