Italy: PMI rebounds in June
July 1, 2016
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) rose from 52.4 in May to 53.5 in June. The index is now further above the 50-threshold that separates expansion from contraction in the manufacturing sector.
June’s result mainly reflected a rebound in the growth rates of output and new orders. Moreover, employment in June expanded at a slightly faster rate than in May and manufacturers’ purchasing activity continued to rise. Regarding price developments, input prices decreased slightly and output charges also diminished, driven down by competitive pressures. Phil Smith, Economist at Markit/ADACI, added that, “June’s PMI survey brought generally positive news on trends within the manufacturing economy. Output and employment continued to rise due to further growth in the inflow of new orders placed with goods producers […]. Overall the sector remains on a steady upward growth path at the mid-way point in the year.”