Italy: Manufacturing PMI falls to 19-month low in December
January 2, 2015
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) declined from 49.0 in November to 48.4 in December, marking the lowest reading in 19 months. As a result, the index fell deeper into contractionary territory.
December’s result reflected a deterioration in manufacturing output, new orders and employment. According to Markit/ADACI, “manufacturing output decreased for the third month running in December and, although only modest, the rate of contraction was the fastest in this sequence.” Markit also pointed out that the drop in new orders was the largest since May 2013.
Author: Cecilia Simkievich, Economist