Prior 52.9
Key findings:
Price pressures cool and supply chain disruption fades in JuneGrowth in new orders and output slows as demand from stockpiling weakens Prices data point to weakest rates of cost and charge inflation since March Fresh fall in purchasing activity while hiring activity nearly stalls
Comment:
Eleanor Dennison, Economist at S&P Global Market Intelligence, said:
“While still continuing to somewhat benefit from stockpiling efforts, June data is evidence that this temporary boost is starting to wear off. In fact, manufacturers themselves lowered their own purchasing quantities in response to slower growth and amid a fresh rise in input stocks.
“On the upside, although the adverse impact of war in the Middle East is still clearly evident in prices and delivery times data, the latest points provide the first signs that things are moving in the right direction for Italian manufacturers.
“Rates of cost and charge inflation were their softest since March, just after outbreak of the Middle East war, and the deterioration in supply chain performance was also the least pronounced over this period. Although firms were more upbeat towards the 12-month outlook, it is clear they are counting on an improvement in the business environment.”
This article was written by Giuseppe Dellamotta at investinglive.com.