Italy: PMI falls to one-year month low in February
March 1, 2016
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) fell from 53.2 in January to 52.2 in February, which marked a one-year low. However, the index remains above the 50-threshold that separates expansion from contraction in the manufacturing sector.
February’s result mainly reflected softer growth rates in new orders and output, with the latter growing at the slowest rate in over a year. Nevertheless, employment kept growing at a stable pace. Markit/ADACI added that, “factory employment moved higher again in February, though for job creation to continue in months to come we can ill afford to see the upturn lose any more momentum. Falling costs at least provides manufacturers with breathing space to lower their charges to support sales, with 2016 set to be another highly competitive year on the pricing front.”
Author: Eric Denis , Economist