Italy, services sector grows again: PMI index rises to 52 points
Published
The services sector in Italy shows an improvement in October. According to PMI index data, the value rose to 52 points, compared with 51.7 points in the previous month. This indicator is closely followed by economists and investors because it measures the performance of economic activities.
The PMI index, that is Purchasing Managers' Index, is based on surveys carried out among businesses. When the value is above 50 points, it means that activity in the sector is growing. When it is below 50 points, it means that activity is declining. A value of 52 points therefore indicates a slight expansion of the services sector.
According to the available information, the growth of activity has returned in line with the long-term average. This means that the sector's pace of development is now similar to that recorded in previous years, although no further explanations have been provided on the causes of this trend.
In conclusion, the October figure shows an Italian services sector that continues to grow, though moderately. To get a more complete picture of the country's economic situation, it will be useful to observe the data for the coming months.
Sources: Il Sole 24 ORE
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