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Financial News: Italy's Service Sector Continues To Expand

Italy's Service Sector Continues To Expand

12/05/2017 - 05:28:00 (RTTNews)

(RTTNews) - Italy's service sector continued to expand in November, survey results from IHS Markit showed Tuesday.

The services Purchasing Managers' Index rose to a 3-month high of 54.7 in November from 52.1 in October. The reading was above the expected level of 53.4.

The score has remained above the 50 no-change mark for 18 successive months.

New work expanded at the fastest pace since August amid reports of firmer demand. With capacity coming under pressure, companies took on extra staff for a fourteenth successive month.

Strong industrial performance means that GDP growth is likely to be maintained at a decent clip in the fourth quarter, albeit one that is slightly slower than seen over the summer quarter," Paul Smith, director at IHS Markit, said.

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