Latest data released by Markit - 3 May 2021

Latest data released by Markit - 3 May 2021
  • Prior 59.8

The headline is a record high reading for Italian manufacturing as output rises at a near-record pace amid the fastest upturn in sales for 21 years. Markit notes that:

"Italy's manufacturing sector continued on its strong recovery path during April. The headline PMI rose to an all-time high of 60.7 amid a near record upturn in output and the quickest expansion of new orders for 21 years, with panelists commenting on further improvements to demand conditions and stronger client confidence.

"Supply chain disruptions continued to hold the sector back, however. Average lead times for inputs lengthened to a near record degree, and added further to inflationary pressures, as costs rose steeply again, and firms upped their average selling prices at a survey record pace as a result.

"Nonetheless, the latest data show nothing less than a stellar performance for the sector as a whole. Consumer goods continued to lag behind, in part due to the significant impact of supply issues, but near record upturns were seen elsewhere in the intermediate and investment goods subsectors.

"Firms remain confident that output will rise further over the next year, and although supply disruptions remain a key concern, the latest PMI data show no signs yet of any slowdown of the Italian manufacturing sector."