Italy: Manufacturing PMI stable in November
December 1, 2014
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) in November was stable at October’s 49.0, thus remaining at the lowest level since May 2013.
November’s result reflects lower manufacturing output and new orders. According to Markit/ADACI, “[u]nmoved at 49.0, the PMI shows Italy’s manufacturing sector contracting further in November. Increasing inflows of new business from abroad are failing to replace the loss of new work domestically, with a drop in total new orders leading firms to rein in production for the second month running.”
Author: Dirina Mançellari, Senior Economist