ROME, Feb 1 (Reuters) - Italy's manufacturing sector
returned to moderate growth in January after six straight months
of contraction, a survey showed on Wednesday, amid declining
input prices and more upbeat expectations for output.
The S&P Global Purchasing Managers' Index (PMI) for Italian
manufacturing came in at 50.4, up from 48.5 the month before and
slightly above the 50 mark that separates growth from
contraction.
The reading was also above the median forecast of 49.6 in a
Reuters survey of 12 analysts.
The manufacturing output subindex climbed to 51.0 from 48.8
the month before, while the new orders indicator rose to 48.3
from 44.4, while remaining in contractionary territory.
"Italy's manufacturing economy returned to expansion
territory in January and, although modest and broadly indicative
of a stagnant sector ... it's hard not to see the latest data in
a positive light," said Paul Smith, Economics Director at S&P
Global Market Intelligence.
The euro zone's third-largest economy grew by 3.9% last
year, despite contracting by 0.1% in the fourth quarter from the
previous three months, data showed on Tuesday.
The government forecasts a sharp slowdown in growth to 0.6%
for 2023.
(Reporting by Angelo Amante, editing by Gavin Jones and Hugh
Lawson)
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