Economics
Italian Manufacturing Fuels Hope of 2021 Economic Recovery
- Factories in Italy saw a sustained upturn in output in January
- ‘Goods producers remained confident of higher output’: Markit
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Italian manufacturing is picking up at the fastest pace in nearly three years, a bright spot in an economy that probably shrank close to 10% during the 2020 pandemic.
Factories, mostly located in the country’s north, saw a sustained upturn in output in January, with orders expanding at a solid pace thanks to demand from Europe and North America, according to an IHS Markit survey. Surging sales prompted firms to add staff, though they also aggravated capacity pressure -- supply chains are under strain across much of the world.