Italy’s industrial activity beats expectations with sharp February rise

Italy’s manufacturing sector expanded in February after two months of contraction, a survey showed on this week, 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.

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...