Italy’s service sector growth quickened unexpectedly in February, though slightly, survey figures from Markit Economics showed Thursday.
The headline Markit/ADACI Business Activity Index rose to 53.8 in February from 53.6 in the previous month. Economists had expected the index to fall to 52.8.
However, any reading above 50 indicates expansion in the sector.
New business grew at an accelerated pace in February amid greater client interest. At the same time, job creation in the Italian service sector eased to the weakest level in four months.
After having hit a 56-month high in January, confidence towards the year-ahead outlook retreated to the lowest since November.
“The survey’s price indices suggest that headline inflation is set to remain low, with cost pressures subdued by falling fuel prices and average tariffs down again,” Phil Smith, economist at Markit, said.
The material has been provided by InstaForex Company – www.instaforex.com