- Prior 50.4
Italian manufacturing growth improves in February, with new orders seen rising for the first time in nearly a year. Meanwhile, a further drop in input prices is also a positive signal to start the new year. S&P Global notes that:
"February saw the continued recovery of the Italian manufacturing sector, with a marked rise in production supported by a return to growth of new orders, the first such increase recorded by the survey in nearly a year. Growth reflected two factors: one was a general upswing in demand, which is showing better-than-expected resilience as inflation and recession fears subside. The second was the ongoing easing of supply constraints, with firms noting that production was being supported by previously ordered inputs finally being delivered.
"Reflective of growing optimism about prices, input costs fell for the first time since June 2020, with energy and general commodity prices reported to be lower compared to the start of the year. This is helping firms to recover some profitability, with many still applying surcharges and raising their charges, albeit at a slower rate. Confidence about the future, combined with rising production requirements meant that firms added to their payroll numbers to the greatest degree since March last year."
