Latest data released by Markit/ADACI - 6 November 2018

  • Prior 53.3
  • Composite PMI 49.3 vs 51.0 expected
  • Prior 52.4

Those are some hefty misses there on Italian PMI prints. The services print contracts for the first time since May 2016 and following a contraction in the manufacturing print as well, the composite reading slips into contraction territory as well. That's certainly not good news for the Italian economy as we move into Q4.