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Financial News: Italy Manufacturing Growth Picks Up Pace In June

Italy Manufacturing Growth Picks Up Pace In June

07/02/2018 - 06:13:00 (RTTNews)

(RTTNews) - Italy's manufacturing growth improved in June, driven by stronger rises in output and new orders, survey data from IHS Markit showed Monday.

The headline Purchasing Managers' Index, or PMI, rose to 53.3 in June from 52.7 in May. However, any reading above 50 indicates expansion in the sector.

Among components, output was raised at a rate that broadly matched the survey's trend, while new business increased to the greatest degree since March.

Employment also rose at a marked rate, which meant firms were able to comfortably keep on top of their workloads.

Although remained in positive territory, business confidence deteriorated to its lowest in over five years.

On the price front, input price inflation accelerated to a 4-month high in June amid reports of higher raw material prices, especially for steel.

Meanwhile, output price inflation weakened to the lowest level since September 2017.

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