Italy Manufacturing Sector Growth Accelerates In December

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Markit Economics announced on Monday that the Markit / ADACI Italy Manufacturing Purchasing Managers' Index stood at a seasonally adjusted 50.8 in December, up from 50.1 in November. A reading above 50 indicates expansion, while one below 50 suggests contraction.

Manufacturing output rose for the third straight month in December and at its fastest pace since September 2007. New orders increased for the third successive month and at the steepest pace since August 2007, with respondents citing an improvement in the prevailing economic climate as the major contributory factor.

Employment in the sector continued to fall, as firms looked to protect cash flow. Nevertheless, the pace of workforce reduction registered during December was the weakest since September last year.

Markit Economics announced on Monday that the Markit / ADACI Italy Manufacturing Purchasing Managers' Index stood at a seasonally adjusted 50.8 in December, up from 50.1 in November. A reading above 50 indicates expansion, while one below 50 suggests contraction. (Market News Provided by RTTNews)