Italy: PMI rises to three-month high in March
April 1, 2016
The Markit/ADACI manufacturing Purchasing Managers’ Index (PMI) increased from 52.2 in February to 53.5 in March, which marked a three-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, which boosted buying levels and, thus, stocks of purchases. Employment grew, albeit at the slowest pace since last September, while backlogs of work fell. Markit/ADACI added that, “with inventories of finished goods falling sharply, there’s a good chance that production will be ramped up further to replenish stock.”