Italy: Manufacturing PMI rebounds in September
October 1, 2014
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) inched up to 50.7 in September. The result was up from the 49.8 recorded in August, which had marked the lowest level in 14 months. As a result, the index is now back above the 50-threshold indicating expansion in the manufacturing sector.
According to Markit/ADACI, even though the index moved back into positive territory in September, the recovery is still fragile. Employment and output recorded a modest improvement compared to the previous month. However, new-order growth has slowed, which points out weakness coming from the domestic side. Downward movements were recorded in producer prices as manufacturers sought to boost sales through discounting.
Author: Dirina Mançellari, Senior Economist