The HCOB Italy Services PMI fell to
51.7 in July from 53.7 the previous month, with the recovery of
the Italian tertiary sector losing strength.
Amid fears of a "slowdown of growth, services are pushing the
Italian economy forward, remaining the national economy's main
engine, although recent indicators suggest potential
difficulties", explained Tariq Kamal Chaudhry, an economist at
the Hamburg Commercial Bank.
The main HCOB Italy Services index in July showed "a stark
regression compared to the previous month, marking weaker growth
from January 2024.
"Prices remained high and service companies continued to deal
with increasingly elevated costs which exceeded selling price
hikes, noted the economist".
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