Italy's manufacturing sector maintained its solid growth in May, albeit slower rate than the expansion in the previous month, survey figures from Markit Economics showed Monday.
The Markit/ ADACI purchasing managers' index fell to 53.2 in May from 54.0 In April. Any reading above 50 indicates expansion in the sector. The latest reading suggest a solid overall improvement in business conditions at Italian goods producers.
In May, overall manufacturing production increased for the twelfth consecutive month, albeit at slower pace than April's three-year peak.
Manufactures raised their employment levels further in May, led by higher inflows of new work and an associated increase in production needs. Purchasing activity growth eased to the weakest in three months.
The survey showed that, output prices showed a rise in May, after showing downward trend observed over the previous two months.
"There were signs that inflationary pressures might be returning as purchasing costs and factory gate prices both rose for the first time in three months," Phil Smith, economist at Markit, said.
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