PMI manufacturing index down to 4-yr low

Lowest since Dec 2014

(ANSA) - Rome, November 2 - The Italian manufacturing purchasing managers index (PMI) compiled by IHS/ Markit fell to its lowest level in four years in October.
    The PMI index fell to 49.1 points from 50 in September, compared to forecasts of 49.7.
    This is the lowest level since December 2014.
    Level 50 is the threshold between the expansion and contraction of the cycle.
    The contraction in manufacturing activity was the first since August 2016.
    The data "represents another hit to Italy's growth after the stagnation of the third quarter", economists said.
    It could have a "negative impact" on fourth-quarter growth, they said.
    GRowth was flat in the third quarter of this year, national statistics agency ISTAT said Wednesday.