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Italy manufacturing growth at 4-month low

Staff writer |
Italy's manufacturing activity expanded at the weakest pace in four months in January, after reaching to 57-month high in December, survey from Markit Economics showed.

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The Markit/ADACI Italy Manufacturing Purchasing Managers' Index fell to 53.2 in January from 55.6 in December. Nonetheless, any reading above 50 indicates expansion in the sector.

Output growth eased to a four-month low in January, but the degree to which production rose was still solid overall.

New orders also climbed at the weakest pace in four months in January, as new export order growth moderated.

Manufacturing employment rose for the fifth month running in January. Moreover, the rate of employment growth was strong and the fastest since last June.

On the price front, input prices fell sharply in January, the second-fastest recorded in the past 32 months behind that seen in October. Consequently, firms lowered their selling prices during the month.

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