Italy's PMI rises to 51, driven by services growth
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The HCOB Italy Composite PMI rose to 51 in October 2024, up from 49.7 in September, indicating growth.
Italy's PMI rises to 51, driven by services growth
The services sector (PMI at 52.4) showed expansion, which helped offset further contraction in manufacturing (PMI at 46.9). New orders saw a modest increase, driven by service demand, although overall employment declined slightly, ending a 10-month hiring streak. While manufacturing experienced job cuts, service sector employment remained stable. Backlogs of work shrank faster than in September, and cost pressures remained.
Service providers face rising input costs, price inflation remains mild
Service providers faced rising input costs, while manufacturers saw a slight decrease. Inflation in selling prices was the mildest in nearly a year, with limited overall growth.
