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Italian service sector growth continues to slow in June
Italy’s service sector continued to expand during June. However, amid reports that client uncertainty and increased interest rates were weighing on sales, activity rose at the slowest rate in four months. Confidence in the future remained positive, and firms took on extra staff though also at a slower rate compared to May. Disinflationary pressures were apparent as signalled by concurrent falls in input and output price inflation. The headline index from the report, the HCOB Italy Services PMI Business Activity Index recorded 52.2 in June. Although indicating another period of above trend growth, the index was down ... (full story)