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Italian service sector growth solid in May
The latest HCOB PMI® showed a sustained upturn across the Italian services economy. Growth was maintained for both new business and activity, but at slightly softer rates. There were also continued signs of optimism among service providers, as business expectations were their most upbeat for 27 months and job creation gained momentum. On the price front, rate of both cost and charge inflation dipped, but remained elevated when compared to the respective longrun series trends. The headline index from the report, the HCOB Italy Services PMI® Business Activity Index registered 54.2 in May, down fractionally from 54.3 ... (full story)