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Financial News: Italy Manufacturing Growth At 8-Month Low

Italy Manufacturing Growth At 8-Month Low

04/03/2018 - 06:03:00 (RTTNews)

(RTTNews) - Italy's manufacturing activity expanded at the weakest pace in eight months in March, survey data from IHS Markit showed Tuesday.

The headline Purchasing Managers' Index, or PMI, dropped to 55.1 in March from 56.8 in February. However, any reading above 50 indicates expansion in the sector.

The slowdown was mainly caused by relatively slower market activity and supply-side constraints.

Production and new orders both increased markedly in March, albeit at slower rates.

Backlogs of work rose for an eleventh successive month in March which in turn encouraged further staff recruitment.

"Price pressures subsequently remained elevated in March, despite easing since the previous month, as vendors take advantage of strong demand conditions and manufactures seek to protect margins by raising their own charges," Paul Smith, Director at IHS Markit, said.

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