Italian Manufacturing PMI Jumps To 43-Month High

(RTTNews) - Italian manufacturing rose at the fastest pace in over three-and-a-half years in December as new orders and output picked up, a fresh survey suggested on Monday.

The Markit-ADACI manufacturing purchasing managers' index came in at a seasonally adjusted 54.7, up from 52.0 in November. A reading above 50 indicates expansion, while one below suggests contraction.

New order received by Italian factories rebounded in December after a small decline in the prior month. Manufacturing output rose for the 15th straight month and at the fastest pace since July.

The pick up in growth drove Italian manufacturers to raise their staffing numbers for the first time since July, and at a pace that was the fastest since April 2006.