Italian Services PMI down at 49.4

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Tuesday, Jan 06 2015

Italian Services PMI dipped to 49.4 in December from November’s 51.8, to signal a modest contraction in service sector output. Analysts were anticipating smaller decrease to 51.4. The headline index’s quarterly average was little-changed from the three months to September.

New work intakes contracted for a second straight and at a faster rate, despite businesses reducing output prices in a bid to boost sales. Employment in the sector held broadly steady, nevertheless. Regarding the outlook for business activity in 2015, data showed a relatively subdued degree of optimism.

Data did not have any larger impact on the markets with euro currently being traded few points above 1.1920 level. Later today, in the US session ISM Services PMI figures are scheduled for a release.

More in this category: « Spanish Services PMI grew to 54.3 in December UK Services PMI at a 19-month low »

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