Italy: Manufacturing PMI falls further in June
July 1, 2014
The Markit manufacturing Purchasing Managers’ Index (PMI) inched down from 53.20 in May to 52.60 in June. The figure undershot market expectations of the index remaining stable at 53.20. PMI has been above the 50-threshold for 12 consecutive months, which indicates expansion in the manufacturing sector.
According to Markit, the figure came on the back of slower growth in output. However, “output growth […] was nevertheless solid and led businesses to raise employment again, with the current run of jobs growth in the sector the longest since 2007.”
Author: Dirina Mançellari, Senior Economist