Italy Manufacturing Growth Strongest Since Mar 2011

(RTTNews) - Italy's manufacturing activity expanded at the fastest pace in nearly five years in December, driven by strong and accelerated growth in output and new orders, survey figures from Markit Economics showed Monday.

The Markit/ADACI Italy Manufacturing Purchasing Managers' Index rose to 55.6 in December from 54.9 in November.

Any reading above 50 indicates expansion in the sector. The latest reading was the highest since March 2011.

Manufacturing output grew at the sharpest pace in more than four-and-a-half years in December.

New orders also climbed at a faster pace in December, which was the quickest since February 2011.

Manufacturers raised their staffing levels in December and the rate of job creation was the largest in five months, led by a marked rise in staff numbers at investment goods producers.

On the price front, input prices fell further in December due to lower raw material costs. In contrast, selling prices rose slightly for the first time in four months.