Italian service companies reported stronger new business in October, but input-cost inflation climbed to an almost four-year high, InvestingLive reports. S&P Global economist Eleanor Dennison highlighted soft export demand and rising fuel and energy costs, with transport firms particularly exposed. Business sentiment was the strongest since November last year. The composite PMI slipped to 50.8 from 51.0, showing that firmer services demand did not translate into faster overall private-sector growth.
Related currencies / asset groups: EUR
Eleanor Dennison describes steady services growth alongside mounting cost pressure.
Italy’s October services survey reported stronger new business and input-cost inflation at an almost four-year high.
InvestingLive / ForexLiveThe composite PMI eased to 50.8 from 51.0, matching the reported 50.8 expectation.
InvestingLive / ForexLiveSoft export demand and higher energy costs remain challenges for service companies.
No ideas are linked to this story yet.