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Manufacturing PMI surprises to the upside

ITALY DATA
  • Italy manufacturing PMI surprises slightly to the upside at 61.1 (59.6 exp, 59.7 prev)
  • From the Markit press release:
  • "Output rises steeply again amid quickest uplift in orders for four months"
  • "October data also highlighted a further lengthening of supplier delivery times, with delays among the most severe on record. Supply issues stemmed from material shortages and logistical issues, according to panellists."
  • "These constraints continued to feed through to price pressures during October. Average cost burdens rose further, with the rate of inflation the third-quickest on record.

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