Markit Economics released its final manufacturing purchasing managers' index (PMI) for Italy on Monday. Italy's manufacturing purchasing managers' index (PMI) climbed to 54.1 in October from 52.7 in September.

The increase was driven by rises in output and new orders.

"Latest PMI data showed the upturn in the manufacturing sector regain some momentum at the start of the fourth quarter, with October seeing stronger rises in output, new orders and employment. Encouragingly, according to panel member reports sources of growth were both domestic and international, boding well for the sustainability of the recovery," Markit economist Phil Smith said.