Italian manufacturing PMI came in at 50.4 for September, above the 50.0 forecast

• The previous reading was 49.6.

Key findings:

• Output and new orders posted only modest declines.
• Inflationary pressures strengthened, while the worsening in supply chain performance eased.
• Employment continued to grow as the outlook stayed bright.

Comment:

S&P Global Market Intelligence economist Eleanor Dennison said:

"The Italian manufacturing sector ended the third quarter on more stable footing. The demand environment remained fragile, but the downturn with respect to new orders was noticeably less severe than in August.

"The year-ahead outlook remained bright as both output expectations and hiring activity were above trend. There was, however, an underlying feeling of uncertainty across the sector as the war in the Middle East continued to play its role in pushing up costs and causing supply-chain disruption. Firms also fear that market uncertainty will act as a roadblock against investment."