Operating conditions facing Italian manufacturers deteriorated sharply in April, as new orders received in the sector contracted at the fastest rate in three years. In turn, both production and employment levels were reduced at accelerated rates, and factory gate prices lowered for a third straight month in spite of further input cost pressures. April saw the seasonally adjusted Markit/ADACI Purchasing Managers’ Index ® (PMI ® ) – a composite indicator designed to provide a single-figure snapshot of manufacturing performance – fall from 47.9 in March to 43.8, signalling the sharpest deterioration in business ... (full story)