Italy: PMI climbs to highest value since March 2011 in December
January 1, 2016
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) rose from 54.9 in November to 55.6 in December, which marked the highest reading since March 2011. As a consequence, the index is now further above the 50-threshold that separates expansion from contraction in the manufacturing sector.
December’s result mainly reflected faster growth rates in output, new orders and employment, with the latter recording a five-month high. In addition, output grew at its fastest rate in over four-and-a-half years. Markit/ADACI commented that, “a weak euro, recovering domestic demand and falling global commodity prices have provided the necessary tailwinds to get things moving.“
Author: Eric Denis , Economist