Italy PMI


Italy: PMI drop in August points to manufacturing contraction

August 1, 2014

The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) inched down from 51.9 in July to 49.8 in August and reached the lowest level in 14 months. This is the first time that the index has fallen below the 50-threshold indicating contraction in the manufacturing sector after 13 consecutive months in expansion territory.

According to Markit/ADACI, “the negative reading doesn’t come as too much of a shock as the index has been trending towards 50.0 ever since peaking at a three-year high in April.” In addition, the survey showed that purchasing activity, inventories and employment continued to record weak growth rates in August.

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 July 2014 1

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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