ROME, March 2 (Reuters) - Italy's manufacturing sector expanded in February after two months of contraction, a survey showed on Monday, offering some hope of a near-term economic pick-up. The Italian
Italy’s Manufacturing Sector Returns to Growth in February as PMI Rises Above 50
Italy’s Manufacturing PMI Signals Economic Recovery
PMI Rises Above Contraction Threshold
ROME, March 2 (Reuters) - Italy's manufacturing sector expanded in February after two months of contraction, a survey showed on Monday, offering some hope of a near-term economic pick-up.
The Italian HCOB Manufacturing Purchasing Managers' Index (PMI) rose sharply to 50.6 from January's 48.1, climbing above the 50-mark that separates growth from contraction.
Sub-Indexes Indicate Broad-Based Improvement
The sub-indexes for output and new orders both rose above 50 for the first time in three months, standing respectively at 51.5 and 50.8 from 47.1 and 47.4 the previous month.
Export Orders Remain a Weak Spot
However, the indicator for new export orders fell to 47.6, indicating contraction for a third month in a row and at a faster pace compared to January's reading of 48.9
Expert Commentary on Manufacturing Conditions
The overall improvement in manufacturing conditions in February "still rests on a fragile foundation," said Hamburg Commercial Bank AG economist Jonas Feldhusen.
Broader Economic Context
The euro zone's third-largest economy grew by 0.3% in the fourth quarter of last year from the previous three months, slightly more than expected.
Italy's government has a full-year growth target of 0.7% for this year after an estimated 0.5% rate in 2025.
(Reporting by Antonella Cinelli, editing by Gavin Jones and Toby Chopra)
