Italian factories ‘trapped in recession’ – S&P ...News

The country’s manufacturing sector has been contracting for six months, a new survey has revealed Factories in Italy have seen a downturn for six months in a row, as manufacturing continues to decline in a sign of a deep industrial recession, Bloomberg reported on Monday, citing a survey by S&P Global. An index based on responses from purchasing managers (PMI) stood at 46.8 in September, compared to 45.4 in August, well below the mark of 50, indicating a contraction. Italian industry and manufacturing, in particular, have been struggling in the past several months due to a lack of new orders as global demand weake

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