Output across Italy’s service sector continued to decrease at a relatively marked pace in December, which data suggested was in part due to a loss of new work. Employment levels were cut again, with businesses looking to reduce some of the excess capacity that had resulted in further backlog depletion over the month. Cost inflation meanwhile quickened, though charges were reduced again on average. The seasonally adjusted Markit/ADACI Business Activity Index – which is based on a single question asking respondents to report on the actual change in business activity at their companies compared to one month ago – rose ... (full story)