The headline IHS Markit Italy Manufacturing Purchasing Managers’ Index(PMI) – a single-figure measure of developments in overall business conditions – posted below the 50.0 no-change mark for the third month running in December. At 49.2, the reading was up from 48.6 in November and signalled a slight monthly decline in the health of the sector.

Andrew Harker, Associate Director at IHS Markit, which compiles the Italy Manufacturing PMI survey, commented: “December PMI data completed a worrying end to the year for Italian manufacturers, with firms continuing to struggle to secure new business. This is in marked contrast to the start of 2018 when the sector was experiencing strong growth. Moreover, with business confidence at a six-year low, there appears little sense of optimism that the current soft patch will come to an end in the near future."