Market news
05.12.2018, 08:52

Activity in Italy's service sector expanded marginally in November

The headline index from the report, the seasonally adjusted Business Activity Index registered 50.3 in November, up from October's reading of 49.2 and indicated a marginal increase in business activity in Italy's service sector. This followed a first reduction in almost two-and-a-half years during the previous month.

Commenting on the PMI data, Amritpal Virdee, Economist at IHS Markit said: “Activity in Italy's service sector expanded marginally in November, driven by persistent new order growth and lower than expected declines in new business from abroad. With a fall in manufacturing output recorded, overall Italian private sector growth has weakened considerably from the start of the year and November's data is consistent with a negative out-turn for GDP in Q4 2018."

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