Italy’s service sector grew marginally in June after three months of contraction, a survey showed on Friday, as cost pressures eased amid signs of de-escalation in the conflict in the Middle East.
Service Sector Growth
S&P Global’s Purchasing Managers Index (PMI) rose to 50.2 from May’s 49.4, edging above the 50 threshold that separates growth from contraction for the first time since the U.S.-Israeli attack on Iran at the end of February.
The survey’s measure of input cost inflation fell sharply in June to 62.1 from 66.7, remaining high by historical standards but posting the first decrease since January.
Italian consumer price inflation eased slightly to 3.1% in June from 3.2% the month before, preliminary data showed on Tuesday.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
