Italy’s service sector expanded for the eleventh successive month in January, though at a slower pace than in the previous month, survey figures from Markit Economics showed Wednesday.
The headline Markit/ADACI Business Activity Index dropped to 53.6 in January from a 69-month high of 55.3 in the previous month. However, any reading above 50 indicates expansion in the sector.
New orders grew at the slowest pace in four months in January. Employment growth continued its modest trend, reflecting reports of increasing company requirements and the commencement of new activities.
On the price front, input cost inflation moderated to a eleven-month low in January, underpinned by lower fuel prices. Firms reduced their selling prices in order to boost client demand.
The survey showed that a further improvement in services firms’ confidence towards growth prospects in the year ahead.
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