Italy’s service sector experienced a rise in business activity during July, but growth softened to a half-year low as sales broadly stagnated. Price pressures remained prevalent, whilst for the first time since April 2021 there was a drop in employment. Confidence in the future was again positive but concerns over higher interest rates and the elevated cost of living ensured that optimism was muted when compared to its historical trend. The headline index from the report, the HCOB Italy Services PMI® Business Activity Index registered 51.5 in July. That compared to 52.2 in June, and marked a seventh successive month ... (full story)