Latest data released by Markit - 1 December 2020
- Prior 53.8
The Italian factory recovery loses some momentum in November as tighter virus restrictions weighed on output as well as a drop in new orders. Markit notes that:
"The Italian manufacturing sector continued to recover in November, although the rate of improvement softened noticeably on the month.
"Output growth eased to a marginal pace amid a renewed decline in total new orders, linked by panellists to stricter lockdown measures.
"Nonetheless, firms' continued to increase staff numbers during November, attributed to greater production requirements and expectations of a surge in demand once restrictions are loosened. This was reflected in the survey's principal forward looking indicator, which signalled ongoing optimism with regards to output in 12 months.
Overall, data remained promising, especially in the context of stricter COVID-19 related measures. With recent vaccine developments, there is hope that the economy can soon reopen fully, and in that eventuality the sector will be well placed to continue to make up lost ground."
