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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ITALY DATA
Italy Manufacturing PMI slipped more than expected in July, to 60.3 (vs 61.5 exp., 62.2 prior), amid what the IHS Markit report described as "capacity pressures and supply disruptions".
- IHS Markit provides some colour behind demand conditions: "Strong rates of increase in both factory production and orderbook volumes remained key to overall growth in July. Output rose for the fourteenth straight month, with the latest rise marked, albeit the slowest for five months. According to respondents, looser COVID-19 restrictions and the reopening of some sectors of the economy had boosted demand."
- Employment was strong: "The rate of job creation was the jointfourth quickest on record, despite slowing on the month."
- But so were price pressures: "Inflationary pressures remained severe in July. Input prices rose at the second quickest pace on record, amid widespread reports of shortages and price hikes at suppliers. In response, firms increased their average charges at the steepest rate in the series history."
- The outlook was mixed, with firms citing upbeat expectations for output in the year ahead, but some noting concerns over COVID cases rising and "potential for further containment measures".
Source: IHS Markit, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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