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Financial News: Italy Services Growth Weakest In 6 Months

Italy Services Growth Weakest In 6 Months

10/04/2017 - 06:17:00 (RTTNews)

(RTTNews) - Italy's service sector activity expanded at the slowest pace in six months in September, survey data from IHS Markit showed Wednesday.

The Purchasing Managers' Index for the services sector dropped to 53.2 in September from 55.1 in September. However, any reading above 50 indicates expansion in the sector.

New orders continued to rise in September, though at the weakest pace since the start of the year.

Nonetheless, employment growth accelerated to a 5-month high in September amid positive growth projections.

On the price front, input price inflation accelerated to the strongest since May, driven by higher staffing costs and rising prices for food and fuel products.

Despite this, companies lowered their selling prices sharply, reflecting ongoing competitive pressures.

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