Italy's manufacturing sector contracted in May, but at a slightly slower pace than in April, a survey by Markit Economics showed Friday.
The seasonally adjusted Markit/ADACI Purchasing Managers' Index rose to 44.8 in May from April's six-month low of 43.8. Economists expected a marginal decline to 43.5.
Still, the reading pointed to a marked contraction in manufacturing activity with the index scoring below the no-change mark of 50.
New orders received by manufacturers fell sharply, and at a rate that was only fractionally slower than April's three-year record contraction. New export orders dropped solidly for a second month running.
Production levels were reduced for the eighth month in succession, the report said.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.