𝕏xIT first seen 11 h ago, last 11 h ago, peak #2

Italy services PMI misses forecasts badly

Original: Italy Services PMI 51.7 (est 54.5, last 55.2) Italy Composite PMI 51.0 (est 53.2, last 53.6) Services: Employment 50.5 (

Italy's services PMI came in at 51.7 in the latest reading, well below the expected 54.5 and down from 55.2, while the composite PMI slipped to 51.0 versus a forecast of 53.2. Employment weakened to 50.5, though exports rose to 51.1 and business expectations improved to 63.0. Commentators describe the report as surprisingly weak overall, with input prices climbing to 65.4 despite the slowdown.

Why now: The unexpectedly sharp slowdown in Italy's services sector is raising concerns about the country's economic momentum.

Italy

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Evidence

• Italy Services PMI 51.7 (est 54.5, last 55.2) Italy Composite PMI 51.0 (est 53.2, last 53.6) Services: Employment 50.5 (last 52.3) Exports 51.1 (50.5) Prices Paid 65.4 (61.5) Business Expectations 63.0 (59.5) Surprisingly weak report, although exports and expectations rose. · CavaggioniMario

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