FX.co ★ Italian Factory Activity Downturn Softens

In April 2025, the HCOB Italy Manufacturing PMI increased to 49.3, up from 46.6 in March, surpassing market predictions of 47. This indicates the mildest reduction in manufacturing activity observed in eight months. The decline in new orders was minimal, representing the slowest decrease in 13 months. Similarly, export orders decreased, primarily due to persistent tariff uncertainties, but the rate of decrease was less pronounced than in March. Employment fell for the seventh consecutive month; however, the reduction in jobs was moderate.