Industry, the manufacturing sector grows: SME index at 53.8

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02 November 2020 The manufacturing SME index, which records the confidence of purchasing managers of companies in Italy, rises to 53.8 points in October from 53.2 points in September.

It is the highest level since March 2018. The indicator, detected by Ihs Markit, signals growth for the fourth month in a row, positioning itself above 50 which represents the demarcation threshold between the expansion and contraction of the cycle.

The strong recovery in the Italian sector is also due to the faster growth of production and total new orders.

Exports provided yet another stimulus and grew at the fastest rate since January 2018. 

The October IHS Markit PMI Manufacturing Sector Index in the Eurozone once again indicated higher growth in the manufacturing sector.

After the necessary seasonal adjustments, the main index rose to 54.8 from 53.7 in September, recording a value higher than the previous flash estimate.

The October data was also the survey's best ever in 27 months and continues the current growth sequence that began in July.

Once again Germany was the region to report the best results, with the respective SMEs reaching their highest level in over two and a half years.

Austria recorded the best performance in nearly two years, while Italy saw growth accelerating to its highest level in 31 months.

Spain experienced strong expansion, while growth was only modest in France and marginal in the Netherlands and Ireland.

Greece was the only country to experience a deterioration in operating conditions, continues Ihs Markit.