In February, Italian manufacturing slowed down more than expected, despite continuing to grow for the eighth consecutive month, thanks above all to the strong increase in new orders destined for foreign markets. According to the economic survey conducted by Markit, the PMI manufacturing index (a sector that accounts for 19% of the Italian economy) recorded a slowdown last month to 52,3 points, from 53,1 in January.
This is the lowest level for three months, also lower than expectations (52,8 points). However, the index remains decidedly beyond the threshold of 50 points, which marks the boundary between expansion and growth. The sub-index relating to employment levels continues to grow (to 50,5 points, from 51,6 in January), but slows down to the lowest level since November.
“The levels of new orders received are increasing and, although it has decreased from the recent record in December, the rate of expansion has remained high – writes Markit -. This was caused by the sharp and faster increase in new orders received from overseas customers, which have continued to rise since the beginning of 2013”.
The manufacturing sector therefore confirms a better trend than that of services, more linked to domestic demand, which is still extremely weak.
