ITALY DATA: Manufacturing PMI Joins Spain And Surprises To Downside
Oct-01 07:51
The Italian manufacturing PMI slipped back into contraction in September, at 49.0 (49.9 cons; 50.4 August). Taking into account the Spain miss, we watch for any revisions on Germany for a potential downward revision for the Eurozone-wide release (scheduled for 09:00 BST / 10:00 CEST, flash at 49.5). Key highlights below:
- "Contributing to the contraction in operating conditions was a renewed drop in new orders. September data indicated a solid decrease in new sales, and one that was the fastest since June. The reduction in new business was attributed by firms to hesitancy among customers amid economic uncertainty."
- "International demand conditions also waned, as new export orders fell at the quickest rate since March. Less favourable demand conditions in key markets in Europe, the US and Asia weighed on new sales from abroad, according to panellists."
- "Subsequently, firms adjusted their output levels down in September, with production contracting at a modest pace. The fall contrasted notably with the strongest rise in output for almost two-and-a-half years in August."
- "Planned investment in expanding business operations reportedly underpinned a fresh rise in employment in September.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
MNI: FRANCE AUG MANUF PMI 50.4 (49.9 FLASH, 48.2 JUL)
Sep-01 07:50
- MNI: FRANCE AUG MANUF PMI 50.4 (49.9 FLASH, 48.2 JUL)
USD: USDSEK edges toward the 2025 low
Sep-01 07:45
- The Dollar is paring back some of its Overnight losses, edging in the green against the JPY, and the CAD.
- The EUR was and still is the best performer, but by 0.27% now, some 16 pips off the high for the EURUSD.
- As noted on the European early session, the chart to watch was the USDSEK, and this is still the case as USDSEK continues to print new intraday low.
MNI: ITALY AUG MANUF PMI 50.4 (49.8 FCAST, 49.8 JUL)
Sep-01 07:45
- MNI: ITALY AUG MANUF PMI 50.4 (49.8 FCAST, 49.8 JUL)
