Latest data released by Markit - 1 October 2021
- Prior 60.9
A light drop in the pace of expansion but overall growth remains rapid, with output and new work continuing to keep more robust last month. Inflation and supply bottlenecks are still an ongoing worry, which may be more of a problem in the months ahead.
Markit notes that:
"The latest PMI data highlighted a further improvement in Italian manufacturing conditions, with the rate of expansion easing only slightly on the month.
"Growth was driven by further steep upturns in output and new orders, with respondents continuing to report strong demand conditions. The rates of increase did slow, and were the weakest since February, but remained among the fastest on record nonetheless. Subsequently, goods producers took on staff at an accelerated pace.
"Supply disruption continued to hold the sector back, however. Delivery delays intensified, amid widespread reports of material shortages and logistical issues. As a result, firms were left waiting for inputs before completing orders, which combined with strong demand, led to another sharp upturn in capacity pressures."Supply chain issues also fed through to another substantial round of inflation across the manufacturing sector. Input costs increased rapidly, with the increase close to June's unprecedented pace, while companies upped their factory gate charges to the fourth greatest degree on record.
"Overall, the sector continues to perform well, with growth remaining rapid despite supply and inflationary issues. It is this issues themselves, however, which may pose ongoing significant challenges in the coming months."
