Italy: PMI returns to expansionary territory in February after five months
March 2, 2015
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) increased from 49.9 in January to 51.9 in February. The index is now above the 50-threshold that separates expansion from contraction in the manufacturing sector for the first time in five months.
February’s result reflected an improvement in both manufacturing output and employment. According to Markit/ADACI, “manufacturers recorded a solid rise in output in February, the fastest since June of last year. Strong growth in new orders from abroad was a key factor behind the increase in production, which in turn led businesses to expand workforces and raise purchasing levels.” Regarding employment, the number of jobs in the manufacturing sector increased for the second month in a row.
Author: Cecilia Simkievich, Economist