Italy: PMI rises to four-month high in April
May 2, 2016
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) increased from 53.5 in March to 53.9 in April, which marked a four-month high. The index is now further above the 50-threshold that separates expansion from contraction in the manufacturing sector.
March’s result mainly reflected higher growth rates in output, new orders and exports. Stocks of purchases decreased in April, as stronger growth in output led firms to increase consumption of input goods. Furthermore, employment grew at a faster rate than in March, while backlogs of work remained unchanged. Markit/ADACI added that, “it was a familiar story, meanwhile, on the price front, with manufacturers taking advantage of a fall in input costs to lower their output charges and boost demand.”