Italy factory activity grows for sixth month running in December

Italian manufacturing activity expanded for a sixth straight month in December though at a slightly slower rate than expected, a survey showed on Monday, as the country battles with the ongoing coronavirus emergency.

The IHS Markit Purchasing Managers’ Index (PMI) came in at 52.8, rising from 51.5 in November and moving further above the 50 mark that separates growth from contraction.

A Reuters survey of 12 analysts had pointed to a reading of 53.6.

The new orders sub-index climbed to 50.2 in December from 48.4 the month before.

The government estimates that the economy contracted some 9% in 2020 due to the COVID-19 pandemic, with a rebound of 6% pencilled in for this year. 

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