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Italian Services PMI unchanged in February

Wednesday, Mar 04 2015
Registering 50.0 in February, down from January’s reading of 51.2, the Italian Manufacturing PMI signalled no change in the level of business activity in the service sector compared with one month ago.  Analysts were anticipating increase to 51.8.
 
Services companies recorded a decrease in incoming new work for the sixth time in the past seven months in February. That said, the rate of  decline eased to the weakest since November and was only marginal. Where a decrease in new work was recorded, this was often linked by panellists to generally weak demand conditions. 
 
Euro was pushed lower during the opening of European part of the session and is currently being traded few points above 1.1120 level. Pair is likely to find support around 1.11 level and resistance above 1.1170 area. Later today, in the US session, ADP job figures and Non-Manufacturing PMI data is scheduled for a release.
Last modified on Wednesday, 04 March 2015
More in this category: « Spanish Services PMI down in February U.K. Services PMI missed market forecasts »

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