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Financial News: Italy's Factory Activity Growth Slows Slightly In January

Italy's Factory Activity Growth Slows Slightly In January

02/01/2017 - 05:51:00 (RTTNews)

(RTTNews) - Italy's manufacturing activity expanded at a slightly slower pace in January, survey data from Markit showed Wednesday.

The headline Purchasing Managers' Index dropped to 53 in January from 53.2 in December. Economists had forecast the score to improve to 53.3.

The indicator signaled expansion in the sector for the fifth consecutive month.

Rates of growth in output and total new orders were slightly slower than in December, but the pace of job creation in the sector picked up to the highest for nine months.

Goods producers faced the steepest rise in average purchasing costs since early 2011, which was reflected in a third straight monthly increase in producer prices.

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