S&P Global said Wednesday that its
seasonally adjusted services purchasing managers index (PMI) for
Italy fell to 48.4 points in July, down from 51.6 in June.
It said it was the first decrease since January and it was
determined by a deterioration in demand conditions.
"The contraction in the tertiary sector coincides with the
severe fall in industrial production in July and, as a result,
the first decline in private-sector production since January
2021," said Lewis Cooper, an economist for S&P Global Market
Intelligence.
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