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Italy factory activity growth at 6-year high

Staff Writer | April 4, 2017
Italy's manufacturing activity growth hit a six-year high amid strong output growth, survey data from IHS Markit showed.
Italy worker
Economy in Italy   A record rise in backlogs of work
The headline Purchasing Managers' Index rose to 55.7 in March from 55.0 in February. This was the highest reading for six years. A score above 50 indicates expansion in the sector.

Production levels expanded at the fastest rate since December 2015, supported by rising inflows of new orders and higher export sales.

A record rise in backlogs of work meanwhile contributed to a further pick-up in factory job creation, while goods producers also raised their input buying levels.

On the price front, data showed that sharply rising input costs were again passed on at the factory gate, with average output charges showing the sharpest increase in nearly six years.