Italy October services PMI 52.0 vs 51.5 expected

Prior 51.7Composite PMI 50.8 vs 50.8 expectedPrior 51.0Key findings:Growth in activity back in line with trend, supported by stronger new business inflows Business sentiment strongest since November last year Input cost inflation surges to almost four-year highComment:Eleanor Dennison, Economist at S&P Global Market Intelligence: "The Italian service sector maintained its steady path of growth in October, even signalling stronger inflows of new work.

The headline reading was back in line with its average trend, having crept higher over the month.

"Granular sub-sector data revealed the commercial & professional services segment was the only drag, with the consumer services and software & communication sectors recording fresh upturns.

The financials & real estate segment continued to lead growth, despite softening again.

"The main challenges facing Italian service companies were softness in export demand and the build-up of cost pressures, two factors that are highly exposed to the ongoing conflict in the Middle East.

Panellists often reported paying more for fuel and energy-related products in their reports, pushing the overall reading for input price inflation to one of its highest since the 2022 energy crisis.

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