Italy: PMI moderates in August
August 1, 2015
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) fell from 55.3 in July to 53.8 in August, which marked a four-month low. However, the index remains comfortably entrenched above the 50-threshold that separates expansion from contraction in the manufacturing sector.
August’s result mainly reflected softer growth rates in output and new orders, despite remaining at solid levels overall. In addition, both employment and producers’ buying levels moderated in August. Markit/ADACI commented, that, “August’s PMI data showed a further expansion of production in Italy’s manufacturing sector, led by another strong performance among capital goods producers. However, data pointed to some loss of growth momentum [...].”
Author: Eric Denis , Economist