Italy Service Sector PMI Growth At 4-Month High … RTT
Italy Service Sector PMI Growth At 4-Month High
Italy’s service sector activity expanded at the fastest rate in four months in June, driven by improved demand and subsequent gains in new work, survey data from IHS Markit
The services Purchasing Managers’ Index rose to 53.1 in May from 52.6 in April.
Any reading above 50 indicates expansion in the sector.
Growth in new orders improved to a 4-month high in June and this resulted renewed pressure on operating capacity, with backlogs of work rising to the strongest degree since March 2010.
Firms raised their employment levels further in June, though the rate of job creation was the lowest since October last year.
On the price front, input price inflation accelerated to the strongest since June 2016, while output charges dropped slightly amid market pressures.
Finally, business confidence was little changed in June, rising only marginally on May’s near two-year low.
by RTTNews Staff Writer