Italy's Markit Construction PMI shows the activity level of the country's construction sector purchasing managers. PMI calculation is based on data collected from monthly replies to questionnaires sent to purchasing executives in over 150 Italian construction companies that provide the highest contribution to GDP. Managers are asked to characterize current business and economic conditions in the national construction sector.
Readings above 50 indicate that most of respondents positively characterize current business conditions. Readings below 50 mean worsening of business conditions.
PMI is a leading indicator of construction sector activity and inflation. Construction PMI growth is an indication of favorable market conditions and thus it can be seen as positive for the euro quotes.