Italy PMI December 2020

Italy

Italy: Manufacturing conditions improve in December

January 4, 2021

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose to 52.8 in December from 51.5 in November. Therefore, the index moved further above the crucial 50-threshold, indicating improving conditions in the manufacturing sector.

The improvement in the headline PMI came on the back of a faster increase in production, a turnaround in new orders and stronger job creation. Moreover, export orders expanded solidly amid looser Covid-19 restrictions. On the price front, input costs rose at the quickest pace since July 2018 amid higher raw material and transport prices and supply chain disruptions. Consequently, firms raised their output prices, although the pace of increase was only modest. Lastly, business sentiment grew more positive, thanks to hopes of a global economic recovery.

FocusEconomics Consensus Forecast panelists see fixed investment increasing 6.8% in 2021, which is down 1.3 percentage points from last month’s estimate. For 2022, the panel expects fixed investment to increase 5.2%..


Author: Massimo Bassetti, Senior Economist

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