The Italian manufacturing sector pulled out of contraction in February, according to latest HCOB PMI® data. The improvement in the health of the sector was partly linked to renewed growth in both production and total order books. The outlook for output over the coming 12 months was much brighter, with the overall level of confidence at its strongest in over five years. However, Italian manufacturers continued to face elevated cost pressures, which limited job creation and continued to discourage the purchase of inputs. With stronger demand, firms were more aggressive when it came to setting their charges. At 50.6, ... (full story)