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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ITALY DATA
The Italian services PMI for December was 49.8 (a touch below consensus of 49.9 and vs 49.5 prior). Wage costs were once again at the forefront, with output charges increasing amongst service sector firms in December.
The composite index was 48.6 (vs 48.3 cons, 48.1 prior).
Key notes from the release are:
- On input prices, "where increases were recorded, firms attributed this to upticks in energy and salary costs", though the rate of "input cost inflation was the least since April 2021".
- However, output charges rose at an accelerated rate, with firms citing "ongoing purchasing cost rises for the latest hike in output charges".
- Employment improved "at a modest pace that was the joint-fastest in six months", which helped orders pending/outstanding work ease.
- "Economic uncertainty was one of the main causes behind the latest decrease" in new business.
- "Amid reports of ongoing geopolitical uncertainty and deteriorating economic conditions, a similar drag on demand in overseas markets was registered in December"
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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