BEAT: Italy's Manufacturing PMI Climbs To 44.8, Business Deterioration Decelerates

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Italy’s May manufactuing PMI climbed to 44.8, which is much better than the decline to 43.5 expected.

From Markit:

Italy’s manufacturing sector remained in contraction
during May. Output levels, new orders and
employment all decreased over the month, albeit all
at slightly reduced rates. Falling new export orders
added to manufacturers’ troubles, although cost
pressures eased to the weakest since last
December amid weakening demand for inputs.

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Economists expect Italy’s May manufacturing PMI number to come in at 43.5.

This would be a modest decline from April’s 43.8 reading.

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