Italy's manufacturing economy in May remains stuck in a contraction phase, with operating conditions still in place getting worse. Production and new orders declined at a higher rate, while purchasing activity was drastically reduced. Companies have largely reported a reduction in excess inventory both on their own and by their customers. Component availability has once again been better, while it remains to the downside price trend. The umpteenth signs of stability in the product markets have however ensured that optimism for the future production has once again settled at an above-average level. Employment growth ... (full story)