Italy factory activity contracts in DecemberChristian Fernsby ▼ | January 2, 2020
Italian manufacturing activity declined for a 15th month running in December and at the steepest rate for almost seven years, a survey showed today.
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A Reuters survey of analysts had pointed to a reading of 47.2.
IHS Markit said its sub-index for new orders at manufacturers declined to 45.8 from 46.7, while the sub-indexes for manufacturing output and employment both dropped to multi-year lows.
The euro zone's third-largest economy has been broadly stagnant for the last seven quarters, and economists say gross domestic product growth in 2019 was probably only around 0.2%. ■