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Manufacturing in Italy climbs to 14-month high in February

Staff Writer | March 3, 2017
The rate of growth of Italy’s manufacturing sector moved up a gear in February, with latest PMI survey data showing the fastest increases in output and new orders since the final month of 2015.
Italy manufacturing
Italy   Markit Italy Manufacturing PMI
Job creation also gathered pace as optimism among goods producers towards the year-ahead outlook for output hit a six-month high.

However, cost pressures continued to intensify, leading manufacturers to raise output charges to the greatest extent for over five-and-a-half years.

The headline Markit Italy Manufacturing Purchasing Managers’ Index (PMI ) moved to 55.0 in February, up from 53.0 in January and its highest level since December 2015 (and its third-highest reading since April 2011).

The health of the manufacturing economy has now improved for six months in a row, and in February this was largely a reflection of strong growth in new orders, which increased at the fastest rate for 14 months.

A key factor behind this was rising sales from abroad, which likewise showed the steepest increase since December 2015.

Manufacturing output was boosted by the surge in new work, rising at the fastest pace for over a year.

Consumer goods producers recorded the strongest rise in output ahead of intermediate goods firms, while growth in capital goods production was more moderate.

Higher activity and an associated increase in backlogs of work translated into more jobs across the manufacturing sector during February.

Furthermore, the rate of job creation was the strongest seen since late-2000.