Italian manufacturing activity rebounded in July, hitting its highest level since June 2018, a survey showed on Monday, raising hopes that the economy was on the road to recovery following the coronavirus lockdown.
The IHS Markit Purchasing Managers’ Index (PMI) rose to 51.9 last month from 47.5 in June, climbing above the 50 mark that separates growth from contraction for the first time since August 2018.
The median forecast in a Reuters survey of five analysts had pointed to a reading of 51.0.
The index slumped to a record low of 31.1 in April, reflecting the closure of most Italian factories in an effort to halt the spread of COVID-19. Plants were allowed to reopen in May, and the index has now climbed for three months running.
IHS Markit’s subindex for output at manufacturers rose to 54.7 in July from a previous 50.8, continuing its revival from a low of 11.6 registered in April to post its strongest reading since March 2018.
The euro zone’s third-largest economy contracted 12.4% in the second quarter from the previous three months and 17.3% year-on-year, preliminary data showed on Friday, but the fall was less severe than many analysts had predicted.
The European Commission will propose an EU KIDS Act on Thursday to set a minimum age for accessing social media throughout the bloc.
The proposal will come with an EU-wide minimum age...
Poland's Prime Minister Donald Tusk said he expected Moscow to escalate the war in "in the coming weeks", following Russian strikes that hit a Warsaw-bound train in Ukraine, just two kil...
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ECB Raises Interest Rates as Energy Costs Keep Inflation in Focus: The European Central Bank will raise its three key interest rates by 0.25 percentage points from 16 Sep...
Morning Briefing
Abela, Costa discuss EU budget, migration and Ukraine in Malta
Prime Minister Robert Abela and European Council President António Costa discussed the EU’s long-te...
The European Commission has unveiled an ambitious package of tax reforms aimed at simplifying tax rules across the European Union, reducing compliance burdens for businesses and strength...
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Ryanair Chief Executive Michael O'Leary on Thursday accused the head of Britain's air traffic control operator of lying about the cause of an outage that led to thousands of flight can...
Oil prices rose on Thursday, extending gains that took Brent over $100 a barrel in the previous session, as traders braced for deeper supply disruptions after Iran and the United States ...
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Pharmaceutic...
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Fears of renewed escalation gripped the Middle East on Wednesday after the United States and Iran exchanged their biggest barrage since July, with Washington striking Iran's southern co...
President Donald Trump announced late Saturday that he had called off planned U.S. strikes on Iran, saying renewed negotiations had raised hopes of easing the conflict and reopening ship...
At least 32 people have been killed and more than 700 injured after two powerful earthquakes — measuring 7.2 and 7.5 — struck central Venezuela seconds apart, causing widespread destruct...
Thousands of Cuban security personnel have begun leaving Caracas after nearly two decades in Venezuela, as Washington ramps up efforts to dismantle the long standing alliance between the...
Poland's Prime Minister Donald Tusk said he expected Moscow to escalate the war in "in the coming weeks", following Russian strikes that hit a Warsaw-bound train in Ukraine, just two kil...
The departure from Moldova of a plane carrying Ukrainian President Volodymyr Zelenskiy to Norway was delayed when authorities closed the country's airspace over a drone alert, a Moldov...
