Skyline of Florence, Italy

Italy PMI September 2020

Italy: Manufacturing conditions improve at fastest pace in over two years in September

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) inched up from 53.1 in August to 53.2 in September. The result marked the strongest reading since June 2018. Therefore, the index moved further above the crucial 50-threshold, indicating improving conditions in the manufacturing sector.

The expansion in the headline PMI came largely on the back of sustained increases in production and new orders as well as of the first increase in staff numbers in 16 months. Moreover, exports rose for the first time since April 2019, albeit mildly, amid recovering foreign demand. On the price front, input costs rose again on higher raw material prices and transport charges, with the pace of input cost inflation at its highest since December 2018. Consequently, firms raised their output prices after seven consecutive monthly reductions. Lastly, business sentiment grew to its highest level in the series history, on rising hopes of economic recovery amid looser restrictions and higher sales.

Commenting on the release, Lewis Copper, economist at HIS Markit, stated:

“Latest survey data will therefore add to signs that the sector has enjoyed a rebound during the third quarter following the large economic blow from the COVID-19 pandemic. That said, it is vital that the momentum is maintained, and downside risks eliminated, to ensure every inch of lost ground is made up.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest