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Italian manufacturing economy remains in contraction territory during February
Latest PMI® data showed a deterioration in the operating conditions faced by Italian manufacturers compared to January. Firms continued to report subdued demand and lower order numbers, to which they responded by reducing production volumes. Despite this, companies increased workforce levels in February, which in turn aided the depletion of outstanding orders. Muted demand conditions also led to the reduction of both costs and charges. The HCOB Italy Manufacturing Purchasing Managers’ IndexTM (PMI®), a composite single-figure indicator of manufacturing performance derived from indicators for new orders, output, ... (full story)