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Financial News: Italy's Manufacturing Growth Steady At 6-1/2 Year High

Italy's Manufacturing Growth Steady At 6-1/2 Year High

10/02/2017 - 06:16:00 (RTTNews)

(RTTNews) - Italy's manufacturing growth held steady at a six-and-a-half year peak in September, data from IHS Markit showed Monday.

The Purchasing Managers' Index came in at 56.3 in September. The score was forecast to rise to 56.9.

The reading has now posted above the 50.0 no-change mark for 13th successive month.

Production continued to increase at a notable rate in September driven by sharply rising incoming new business.

Manufacturers responded to capacity pressures by adding to their workforce numbers at a rate that was close to May's near survey record increase.

Latest price data showed another round of input cost rises in September. Greater price pressures were in part driven by shortages of materials at vendors.

Over 11 percent of panellists chose to increase their own output charges in September as part of efforts to protect margins.

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