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ITALY DATA: September Composite PMI Below 50 For First Time This Year

ITALY DATA

The Italian services PMI was a little weaker than expected at 50.5 (vs 51.1 cons, 51.4 prior), after Tuesday’s manufacturing PMI also printed below consensus estimates. The composite PMI thus fell below the expansionary 50-handle for the first time this year.

Although output charge inflation was “one of the least pronounced” in three years, there were some reports of firms passing on input cost rises to consumers to protect margins.

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The Italian services PMI was a little weaker than expected at 50.5 (vs 51.1 cons, 51.4 prior), after Tuesday’s manufacturing PMI also printed below consensus estimates. The composite PMI thus fell below the expansionary 50-handle for the first time this year.

Although output charge inflation was “one of the least pronounced” in three years, there were some reports of firms passing on input cost rises to consumers to protect margins.

Keep reading...Show less