Italy: Steepest decrease in new work in 2013 so far

From markiteconomics.com

After an encouraging start to the second quarter which saw the downturn in Italy’s service sector lose momentum, latest PMI data showed accelerated contractions in business activity, new work and employment. Confidence among businesses about future performance also deteriorated during May. Inflationary pressures meanwhile remained subdued, with costs up only modestly on the month and charges falling further. May saw the ongoing contraction in Italian service sector output reach the two-year mark, with business activity falling at a solid rate, and one that was slightly faster than at the start of the second ... (full story)