Italy’s manufacturing sector grew at the fastest pace in three months during October, driven by robust growth in new orders and output that led to the sharpest rise in employment in three months.
The Markit/ADACI Italy Manufacturing Purchasing Managers’ Index rose to 54.1 from 52.7 in September. A PMI score above 50 indicates growth in the sector. The Italian manufacturing sector expanded for the ninth month running.
Production grew accelerated from the previous month’s eight-month low, mirroring faster increases in both investment and intermediate good production. Consumer goods output dropped for a second straight month.
Order growth was attributed to stronger underlying demand both domestically and from abroad. New export orders grew the thirty-fourth month in succession and at the steepest rate since July.
Average input prices declined at the steepest rate since May 2013. Purchase prices fell for the third consecutive month and was linked to lower raw material costs, especially metals. Output prices decreased the most since February.
The material has been provided by InstaForex Company – www.instaforex.com