Italy’s services workforce shrank at a survey-record pace in January, as business activity also decreased at an accelerated rate. New work levels fell more slowly, however, with firms increasing in confidence about growth in output over the coming year. Elsewhere, there was dip in cost inflation from December’s four-month high, while output prices fell at a modest and slightly slower pace. January saw Italy’s service sector output contract at a faster rate, as highlighted by the seasonally adjusted Markit/ADACI Business Activity Index – which is based on a single question asking respondents to report on the actual ... (full story)