(RTTNews) - Business conditions in the Italian manufacturing sector improved for the fastest pace since May 2007 in July as an acceleration of output growth and rise in employment level, a report by the Markit Economics showed on Monday.Italian Manufacturing Sector Expands In July
(RTTNews) - Business conditions in the Italian manufacturing sector improved for the fastest pace since May 2007 in July as an acceleration of output growth and rise in employment level, a report by the Markit Economics showed on Monday.
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(RTTNews) - Business conditions in the Italian manufacturing sector improved for the fastest pace since May 2007 in July as an acceleration of output growth and rise in employment level, a report by the Markit Economics showed on Monday.
The seasonally adjusted Markit/ADACI purchasing managers index for manufacturing rose to 54.4 in July from 54.3 in the previous month. Economists had expected a reading of 54.8. A reading above 50 indicates expansion, while one below 50 suggests contraction. The PMI increased for the fastest pace since May 2007.
Manufacturing output climbed for the 10th successive month and the joint-fastest since May 2007, the Markit said. Similarly, new orders also increased for the tenth straight month. Export orders significantly increased in July, with new business from abroad rising for the ninth straight month.
Average cost inflation eased to a five-month low in July. However, input prices continued to rise at a considerable pace. Employment increased for the first time since early 2008.
"The ongoing weakness of the euro also remains a boost to Italian exporters. However, evidence that growth in global trade flows is slowing, and the imminent implementation of government austerity measures across much of Europe highlight just some of the headwinds faced by Italian manufacturers." Andrew Self, economist at Markit said.
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