Italy May manufacturing PMI 52.9 vs 51.9 expected
- Prior 52.1
Key findings:
- Renewed growth in new orders supports stronger increase in manufacturing output
- Stockpiling efforts support fresh pick-up in order books
- Delivery delays worsen and inflation intensifies
Comment:
Eleanor Dennison, Economist at S&P Global Market Intelligence, said:
"Faced with even more disruption to supply chains and greater cost pressures brought on by war in the Middle East, manufacturers in Italy are acting to mitigate any risk of production stoppages. Despite accelerated purchasing activity, efforts to build buffer stocks were unsuccessful amid greater instances of delivery delays.
"This new improvement in demand seen across the sector is likely to be unsustainable when the boost from stockpiling inevitably fades. However, given that this was one of the strongest injections of new work in over four years, firms upgraded their production volumes in response.
"Although good producers again faced another steep and accelerated increase in their average cost burdens, we are not seeing inflation hit the levels seen during the height of the 2022 energy crisis at present."
This article was written by Giuseppe Dellamotta at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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