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Italian service sector downturn worsens during October
The Italian service sector remained mired in a downturn during October, with business activity declining at a quicker pace, according to the latest PMI® data. Central to the sustained downturn was the quickest reduction in new business since June, with panellists linking declines in both output and new orders to weak client demand amid ongoing restrictions to tackle the coronavirus disease 2019 (COVID19) pandemic. As a result, firms continued to cut staffing levels, with the pace of job shedding accelerating on the month. The headline index from the report, the seasonally adjusted Business Activity Index – which ... (full story)