Italy Services PMI down to 55.0, vs exp 57.3, from prior 57.7.
- Slower growth compared to January recorded
- Activity and new business nonetheless still increase at marked rates
- Further jobs added as workloads continue to
Paul Smith, Director at IHS Markit which compiles the Italy Services PMI survey, said:
“Following a stellar start to the year, the Italian service sector saw growth weaken in February but sustained at a decent clip. Midway through the first quarter of 2018 the economy is firmly on course to deliver a similar sized level of quarterly GDP growth to those seen over the past year or so.
“Demand conditions remain favourable, and rising workloads mean that companies continue to take on additional workers, albeit in a relatively careful and considered manner.
“Recruitment is also being supported by positive expectations for growth, with service providers retaining an optimistic outlook and indicating plans to raise investment levels over the coming 12 months.”