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Financial News: Italy's Services Sector Expands In January

Italy's Services Sector Expands In January

02/03/2017 - 04:43:00 (RTTNews)

(RTTNews) - Italy's service sector made a positive start to 2017, according to latest Purchasing Managers' survey data from IHS Markit.

The services Purchasing Managers' Index rose marginally to 52.4 in January from 52.3 in December, data showed Friday.

The score signaled an eighth consecutive monthly increase in services output. However, the score was below the expected level of 52.5.

Respondents reported general strengthening of underlying demand. The sector's ongoing growth was reflected in another rise in employment.

Despite strengthening demand and growing cost pressures, companies continued to lower prices charged for services.

Looking ahead to prospects for business activity in a year's time, latest data showed services firms' confidence at its lowest for four months.

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