Italy PMI


Italy: Manufacturing PMI inches down in May

June 2, 2014

The manufacturing Purchasing Managers’ Index (PMI) inched down from 54.0 in April to 53.2 in May. The figure represents the lowest level since March. That said, the index has been above the 50-point threshold for 11 consecutive months, which indicates expansion in the manufacturing sector.

According to Markit, despite the small drop observed in May, “the PMI nevertheless pointed to solid growth in the manufacturing sector.” In addition, employment growth continued to improve, a sign that businesses see the growth upturn continuing. However, inflationary pressures could return since purchasing costs rose for the first time in three months.

FocusEconomics Consensus Forecast panelists see fixed investment rising 0.3% in 2014, which is down 0.7 percentage points from the previous month’s estimate. For 2015, the panel expects fixed investment to increase 2.0%.

Author:, Senior Economist

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Italy PMI Chart

Italy PMI May 2014

Note: Markit Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector while readings below 50 point to a contraction.
Source: Markit.

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