Italy’s manufacturing activity expanded more-than-expected in November to the strongest level in four months, survey figures from Markit Economics showed Tuesday.
The Markit/ADACI Italy Manufacturing Purchasing Managers’ Index rose to 54.9 in November from 54.1 in the previous month. Any reading above 50 indicates expansion in the sector.
Manufacturing output grew for the eleventh successive month in November. Moreover, the pace of expansion accelerated for the second month running and was the fastest since July.
Similarly, growth in new orders accelerated to a four-month high in November.
Manufacturers raised their payroll numbers further in November, driven by stronger demand and facing higher production requirements.
On the price front, input prices decreased markedly in November, due to cheaper raw material prices. As a result, firms lowered their selling prices for the third straight month.
The material has been provided by InstaForex Company – www.instaforex.com