Latest data released by Markit - 4 January 2021
- Prior 51.5
Much like the rest of the region, Italian manufacturing improved in December as new orders return to growth - signaling a modest improvement in overall conditions. That said, the Italian economy relies more heavily on its services sector, so there's that.
Markit notes that:
"The Italian manufacturing recovery continued at the close of the year, with output expanding for the seventh straight month. Order books returned to growth, although barely, with gains coming mostly from foreign demand which saw a strong rebound from the slight fall in November.
"COVID-19 measures continued to impact supply chains, however, with delays the most severe since May. Shortages and transport fees pushed costs higher again, with goods producers registering the most marked rate of input cost inflation since mid-2018.
"Nonetheless, amid the ongoing recovery, manufacturers were the most confident of output growth in 12 months' time since August, citing hopes of improved demand and a robust economic rebound following the pandemic and positive vaccine news."
