Italy’s service sector expanded in June after contracting for the first time in seventeen months in May, survey data from Markit Economics showed Tuesday.
The services Purchasing Managers’ Index rose to 51.9 in June from 49.8 in May. Any reading above 50 indicates expansion, while a score below 50 suggests contraction in the sector.
New orders grew at the fastest pace in four months in June amid a general strengthening of demand.
Service providers raised their stalling levels further in June, with the rate job creation reaching the fastest in the year-to-date.
On the price front, input price inflation accelerated to a 13-month high in June, driven by higher fuel prices and salary pressures.
In contrast, firms lowered their selling prices due to competitive pressures and efforts to boost incoming work.
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