Prior 49.6Key findings:Modest reductions in output and new orders Inflationary pressures intensify, but deterioration in supply chain performance eases Job creation sustained as outlook remains bright Comment:Eleanor Dennison, Economist at S&P Global Market Intelligence, said: "The Italian manufacturing sector ended the third quarter on more stable footing. The demand environment remained fragile, but the downturn with respect to new orders was noticeably less severe than in August. "The year-ahead outlook remained bright as both output expectations and hiring activity were above trend. There was, however, an underlying feeling of uncertainty across the sector as the war in the Middle East continued to play its role in pushing up costs and causing supply-chain disruption. Firms also fear that market uncertainty will act as a roadblock against investment."For background, the Purchasing Managers' Index (PMI) is a composite indicator designed to track changes in manufacturing business conditions. The Italy Manufacturing PMI combines information on new orders, output, employment, suppliers' delivery times and stocks of purchases, with a reading above 50.0 indicating an overall improvement in operating conditions and a reading below 50 indicating deterioration. This article was written by Giuseppe Dellamotta at investinglive.com.