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Italian manufacturing sector makes solid start to 2017

Staff Writer | February 6, 2017
Italy’s manufacturing sector saw an increase in production levels in January, supported by rising orders from abroad.
Italian manufacturing
Italy   Markit Italy Manufacturing PMI
Rates of growth in output and total new orders were slightly slower than in December, but the pace of job creation in the sector picked up to the highest for nine months.

Meanwhile, goods producers faced the steepest rise in average purchasing costs since early 2011, which was reflected in a third straight monthly increase in producer prices.

The headline Markit Italy Manufacturing Purchasing Managers’ Index(PMI) – a single-figure measure of developments in overall business conditions – read 53.0 in January, down slightly from December’s 53.2 but pointing to an overall improvement in the sector’s health for the fifth month in a row.

Production levels continued to rise at a solid rate in January, despite the pace of growth having eased slightly from December’s six-month high.

Underpinning the increase in output was ongoing expansion in manufacturers’ new orders, which increased for the fifth month running and were in turn boosted by higher export sales.

The sector’s continued growth was reflected in the creation of new jobs during January.

Furthermore, the rate of hiring was the highest seen since April last year.

Among those businesses that took on new staff there were mentions of higher workloads and efforts to expand productive capacity.