Economy Minister Pier Carlo Padoan
said Wednesday that the economic data are looking increasing
positive and this will likely continue.
"I read the data as a strengthening of the recovery...I
expect more and more positive data," Padoan told a parliamentary
committee..
He acknowledged that Tuesday's increase in jobless figures
was "apparently contradictory" to the positive outlook.
The rise in unemployment in February to 12.7% from 12.6%
the previous month came after reports of a jump in consumer and
business confidence, suggesting to some that the recovery is
somewhat uneven.
Further positive economic data came Wednesday in a
surprisingly strong number for March's purchasing managers index
(PMI) in manufacturing.
The Markit-ADACI Economics PMI rose to 53.3 in March from
51.9 in February, and exceeded expectations that the figure
would be only slightly higher, at about 52.1.
The March data was also the highest since April 2014 and
was over the level of 50, the demarcation between expansion and
contraction.
Across the eurozone, the PMI index, which represents
manufacturing activities, rose to an average of 52.2 in March
from February's revised 51.
Italy's level of 53.3 exceeded the eurozone average, as did
Germany's measure of 52.8, up from 51.1 in February.
Spain at 54.3, and Ireland at 56.8 were extremely strong
and offset the continued weakness in France, where the PMI was
48.8 in March.
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