Italy February manufacturing PMI 58.3 vs 58.0 expected

• Prior 58.3

Italian manufacturing remains firmly in growth territory as output growth shows a slight improvement and new work rising sharply last month. Another positive takeaway is that supply disruptions and inflationary pressures showed signs of easing but the latter remain rather elevated as compared to how things were before. Markit notes that:

"Italy's manufacturing sector recorded a further solid improvement in business conditions during February. Factory production increased at an accelerated pace as new work rose sharply, with survey respondents citing improved client demand.

"Supply issues continued to hinder output in February, however, with some panellists reporting that difficulties sourcing inputs had left orders unfinished and placed pressure on capacity. That said, the degree to which delivery delays occurred was the least severe for 11 months, pointing to some easing of pressure on supply chains.

"At the same time, inflationary pressures remained severe by historical standards, but the rate of cost inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term slowed noticeably to an 11-month low, while the latest increase in factory gate charges was the weakest since last September.

"Strong sales and retreating inflationary pressures pushed business confidence to a five-month high in February, with goods producers hopeful that demand will further improve in the coming months and output will continue to increase."