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.
Author: Dirina Mançellari, Senior Economist