The Italian manufacturing sector downturn was sustained in May, following a fleeting period of growth in March. Operating conditions deteriorated at a sharper rate, underpinned by rapidly reduced order book volumes. In response, manufacturers lowered their production volumes again, which in turn led firms to cut jobs and reduce input buying. Though companies faced steeper cost pressures due to rising raw material prices, they continued to reduce charges to encourage sales. The HCOB Italy Manufacturing Purchasing Managers’ IndexTM (PMI®), a composite single-figure indicator of manufacturing performance derived from ... (full story)