Latest data released by Markit - 1 April 2020
- Prior 48.7
The headline figure is the weakest print since April 2009 with factory production falling at its fastest pace on record while operating conditions and order book volumes declined at their quickest rate for nearly 11 years.
Much like everywhere else, the decline in output and new orders are the main drag - owing to the business shutdowns and travel restrictions from the virus outbreak.
Markit notes that:
"Overall, March data highlighted one of the worst performances of the sector on record. With the Italian economy effectively shut down, it is unlikely that any recovery from the significant COVID-19 disruptions will be swift."
