{"id":2580,"date":"2026-07-03T08:07:44","date_gmt":"2026-07-03T08:07:44","guid":{"rendered":"https:\/\/usmovingexpertss.com\/?p=2580"},"modified":"2026-07-03T08:07:44","modified_gmt":"2026-07-03T08:07:44","slug":"italy-service-sector-returns-to-growth-as-cost-pressures-ease-pmi-shows","status":"publish","type":"post","link":"https:\/\/usmovingexpertss.com\/?p=2580","title":{"rendered":"Italy service sector returns to growth as cost pressures ease, PMI shows"},"content":{"rendered":"
<\/p>\n

ROME – Business in Italy’s service sector grew marginally in June after three months of contraction, a survey showed on Friday, as cost pressures eased amid signs of de-escalation in the conflict in the Middle East. <\/p>\n

Read more South Africa private sector returns to growth as inflation eases, PMI shows<\/a><\/p>\n

<\/p>\n

S&P Global’s Purchasing Managers Index (PMI) rose to 50.2 from May’s 49.4, edging above the 50 threshold that separates growth from contraction for the first time since the U.S.-Israeli attack on Iran at the end of February.<\/p>\n

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A Reuters survey of nine analysts had pointed to a reading of 50.5.<\/p>\n

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The survey’s measure of input cost inflation fell sharply in June to 62.1 from 66.7, remaining high by historical standards but posting the first decrease since January.<\/p>\n

<\/p>\n

The “prices charged” indicator also declined, to 52.8 from May’s 54.1.<\/p>\n

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“Signs that the heat is coming off inflation will be a welcome reprieve at service providers and consumers alike,” said S&P Global economist Eleanor Dennison.<\/p>\n

<\/p>\n

Italian consumer price inflation eased slightly to 3.1% in June from 3.2% the month before, preliminary data showed on Tuesday.<\/p>\n

<\/p>\n

S&P Global’s sister survey for Italy’s smaller manufacturing sector, released on Wednesday, also showed cost pressures and supply chain disruption easing in June.<\/p>\n

Read more Heat advisory for Pee Dee for Friday<\/a><\/p>\n

<\/p>\n

The composite PMI, combining manufacturing and services, rose to 50.8 in June from 50.4 the month before, indicating a third consecutive month of expansion.<\/p>\n

<\/p>\n

The services survey showed the “new business” sub-index climbing to 51.0 in June from 48.9 in May. <\/p>\n

<\/p>\n

The employment indicator declined slightly to 50.4 from 50.6 but still pointed to modest job creation during the month.<\/p>\n

<\/p>\n

Prime Minister Giorgia Meloni’s government in April cut its economic growth outlook to 0.6% for this year and next from previous targets of 0.7% and 0.8% respectively.<\/p>\n

<\/p>\n

The government forecast a 0.8% growth rate for 2028, which would mark six consecutive years of sub-1% growth.<\/p>\n

Read more Iran prepares to bury slain supreme leader with week of mass mourning<\/a><\/p>\n

<\/p>\n

(Reporting By Gavin Jones, editing by Toby Chopra)<\/p>\n

<\/p>\n

Copyright Reuters or USA Today Network via Reuters Connect.<\/i><\/p>\n

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