Italian Manufacturing PMI at an eight-month high

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Monday, Mar 02 2015

At 51.9, up from January’s 49.9, the Italian Manufacturing PMI was at its highest level since July 2014. Analysts were anticipating smaller growth to 50.2. Strong growth in new orders from abroad was a key factor behind the increase in production, which in turn led businesses to expand workforces and raise purchasing levels. Data meanwhile continued to show deflationary pressures, with manufacturers’ input costs and selling prices falling further.

Providing a boost to the sector was a rise in incoming new orders, the first in five months. While there were some mentions among panellists of stronger domestic demand, the primary factor leading overall new work to rise was strong growth in export sales. February in fact saw the steepest increase in new orders from abroad for eight months.

Data did not have any major impact on the markets with euro currently being traded few points above 1.1180 level. Pair is likely to find support around 1.1150 and resistance above 1.1250 level. Later today, in the US session, Manufacturing PMI figures are scheduled for a release.

More in this category: « Spanish Manufacturing PMI fell in February U.K. Manufacturing PMI rose more than expected »

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