Markit Economics released its final manufacturing purchasing managers' index (PMI) for Italy on Monday. Italy's manufacturing purchasing managers' index (PMI) climbed to 55.3 in July from 54.1 in June.

The output and new orders rose in June, while the employment was up.

"Momentum continues to build in the Italian manufacturing sector, with the PMI now having risen in six of the past seven months to its highest since April 2011. Production is expanding on all fronts, though particularly sharply in the capital goods sector, in a sign of increasing investment among businesses," Markit economist Phil Smith said.