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Italian Manufacturing Downturn Deepens With Second Contraction

Alfa Romeo Manufacturing At Fiat Chrysler Automobiles NV Assembly Plant
Photographer: Matthew Lloyd/Bloomberg

Italian manufacturing shrank for a second straight month in November, further bad news for the economy amid a budget battle that’s undermining confidence.

In its monthly report, IHS Markit said an index of factory activity fell to 48.6 from 49.2 in October. That’s a sharper fall than economists forecast and takes the gauge to its lowest in four years.