The Italian goods producing sector closed the year in negative territory after having failed to sustain November's growth spurt. Setbacks were broad-based in December, though largely centred around the renewed declines in manufacturers' order books and output volumes. In response to weaker sales, headcounts were lowered and buying quantities were reduced. This did, however, reduce cost pressures and firms subsequently offered discounts. Although overall business conditions deteriorated, confidence levels improved slightly. At 47.9 in December, the HCOB Italy Manufacturing Purchasing Managers’ IndexTM (PMI®), a ... (full story)