Latest data released by Markit - 1 February 2021
- Prior 52.8
That's the highest reading since March 2018 as Italian manufacturing recovers further to start the new year, with output growth reflecting the fastest rate in three months.
Much like the rest of the region, factory activity continues to hold up well after adapting and adjusting to virus restrictions in general. Markit notes that:
"The Italian manufacturing recovery strengthened into the new year, with a sustained upturn in output and quicker growth of new work pushing the headline PMI to a 34-month high.
"Although the sector appears to be powering through further COVID-19 restrictions, the pandemic continued to wreak havoc on supply chains in January, as lead times for inputs lengthened to the greatest extent since last May. Moreover, shortages and greater transport costs pushed the rate of input price inflation to a near four year high, although firms were able to alleviate pressure on margins through higher average charges, thanks in part to a sustained surge in demand.
"Goods producers remained confident of higher output over the coming year during January, and indeed the manufacturing sector remains in relatively good stead as we enter 2021, with the recovery gathering further momentum in spite of 'red zone' restrictions in some areas."
