Italy's Services PMI down for 1st time since Jan

Drop due to deterioration in demand says S Global

03 August, 17:30

    (ANSAmed) - ROME, AUG 3 - S&P Global said Wednesday that its seasonally adjusted services purchasing managers index (PMI) for Italy fell to 48.4 points in July, down from 51.6 in June.

    It said it was the first decrease since January and it was determined by a deterioration in demand conditions.

    "The contraction in the tertiary sector coincides with the severe fall in industrial production in July and, as a result, the first decline in private-sector production since January 2021," said Lewis Cooper, an economist for S&P Global Market Intelligence. (ANSAmed).

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