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Italy's manufacturing sector downturn deepens in March, PMI shows

The HCOB Purchasing Managers' Index (PMI) for manufacturing fell to 46.6 in March from 47.4 in February, marking the 12th consecutive month below the 50.0 threshold that separates growth from contraction. A Reuters survey of eight analysts had pointed to a reading of 48.0. "Italy's manufacturing sector remains in the grip of crisis, showing no signs of improvement in March," said HCOB economist Jonas Feldhusen.

The HCOB Purchasing Managers' Index (PMI) for manufacturing fell to 46.6 in March from 47.4 in February, marking the 12th consecutive month below the 50.

0 threshold that separates growth from contraction. A Reuters survey of eight analysts had pointed to a reading of 48.0.

"Italy's manufacturing sector remains in the grip of crisis, showing no signs of improvement in March," said HCOB economist Jonas Feldhusen..