Italy: PMI hits multi-year high in May
June 1, 2015
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) increased from 53.8 in April to 54.8 in May, which marked a multi-year high. As a result of May’s improvement, the index is now even further above the 50-threshold that separates expansion from contraction in the manufacturing sector.
May’s result reflected improvements in output, new business and in employment. Markit/ADACI commented, that, “the latest increases in output and new orders were sharp and the fastest recorded since 2011, in turn leading to a further acceleration in the pace of job creation. A steep rise in new export orders was a key factor underpinning growth.”
Author: Eric Denis , Economist