Italy’s service sector expanded for the seventh consecutive month in September, though the rate of growth was slower than from the prior month, survey figures from Markit Economics showed Monday.
The headline seasonally adjusted Markit/ADACI Business Activity Index fell to 53.3 in September from August’s 65-month high of 54.6. However, any reading above 50 indicates expansion in the sector.
New business climbed for the seventh month running in September, but the rate of increase was the weakest in this sequence.
At the same time, employment decreased in September, marking the second fall in the past three months.
The survey also revealed that business outlook strengthened in September. Confidence towards growth prospects in the year ahead rebounded from an eight-month low in August, to the strongest since April.
On the price front, input prices rose in September, but the rate of inflation was the slowest in seven months. Companies lowered their selling prices amid attempts to boost customer interest.
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