Growth in Italy’s service sector strengthened in July and cost pressures continued to ease, a survey showed on Wednesday, offering some encouraging signs for the euro zone’s third-largest economy.
Service Sector Growth
S&P Global’s Purchasing Managers’ Index (PMI) for the service sector rose to 52.5 from June’s 50.2, moving further above the 50 threshold that separates growth from contraction.
The survey’s measure of input cost inflation fell for a second month running in July to 61.2 from 62.1, after a three-and-a-half-year peak of 66.7 in May.
The employment sub-index rose to 52.7 from 50.4, and the new business indicator climbed to 53.9 from 51.0, posting its highest reading this year.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
