The IHS Markit Buying Managers’ Index (PMI) for Italian manufacturing got here in at 62.0 in December towards a report 62.8 registered in November.
December’s studying, which was the 18th consecutive month above the 50 threshold that separates development from contraction, beat the median forecast of 61.6 in a Reuters survey of 10 analysts.
The brand new orders sub-index remained buoyant at 63.0 – the fourth-highest studying on report and solely barely down on the 63.7 registered in November.
The financial outlook has been clouded not too long ago by a rise in Covid-19 circumstances and the emergence of the Omicron variant, with Italy posting report numbers of latest circumstances because it headed into the vacation season.
Prime minister Mario Draghi says the Italian financial system doubtless expanded in 2021 by greater than the federal government’s official 6.0% forecast and is predicting development of 4.7% in 2022.
That follows the report 8.9% contraction registered in 2020, when the financial system was crippled by coronavirus lockdowns.