Italian Manufacturing PMI at the highest level since April 2014

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Wednesday, Apr 01 2015

Italian Manufacturing PMI read 53.3 in March, up from 51.9 in February. Smaller increase to 52.2 was anticipated. This latest reading was the highest since April 2014, with the index’s average over the opening quarter as a whole (51.7) its best since the second quarter of last year.

Output growth in the manufacturing sector strengthened further in March, reaching the fastest since last June. The upturn during the month was broad-based by industrial group, with consumer, intermediate and investment goods producers all noting substantially higher output compared with the month before.

Despite the figures, euro was pushed lower at opening of European part of the session and is currently being traded around 1.0750 area. Pair is likely to find support around 1.07 handle and resistance above 1.08 level. Later today, in the US session, ADP job figures and Manufacturing PMI data is scheduled for a release.

More in this category: « Spanish Manufacturing PMI slightly up in March U.K. Manufacturing PMI at an eight-month high »

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