Italy: PMI hits 11-month high in March
April 1, 2015
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) increased from 51.9 in February to 53.3 in March, which marked the highest reading since April 2014. As a result of March’s improvement, the index stands a bit further above the 50-threshold that separates expansion from contraction in the manufacturing sector.
March’s result reflected an improvement in output, exports and in employment. Both production and exports grew at the fastest pace since June 2014. Regarding employment, Markit/ADACI noted, that, “the Italian labor market reaped some of the benefit of higher activity, as manufacturers recruited additional staff for a third consecutive month during March. Furthermore, the rate of job creation was solid, having quickened to the fastest since February 2011.”
Author: Cecilia Simkievich, Economist