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ITALY DATA: Company Margins Under Pressure In July Services PMI

ITALY DATA

The Italian July services PMI printed at 51.7 (vs 52.9 cons, 53.7 prior). This represented the slowest rate of expansion seen since January this year, although the metric still logged a 7th consecutive month of expansion.

Company margins remained under pressure as firms struggled to pass-on increased cost pressures to consumers, contrasting with findings in the Spanish release.

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The Italian July services PMI printed at 51.7 (vs 52.9 cons, 53.7 prior). This represented the slowest rate of expansion seen since January this year, although the metric still logged a 7th consecutive month of expansion.

Company margins remained under pressure as firms struggled to pass-on increased cost pressures to consumers, contrasting with findings in the Spanish release.

Keep reading...Show less