The index that measures the activity of the service sector in Italy has dropped. Indeed, in the month of May, thePMI index for services elaborated by Markit Economics, recorded a drop in share 52,5 points from 53,1 in April. Disappointed analysts, who had expected a more moderate contraction to 52,9.
In any case, the data remained, for the fifth consecutive month, above 50 which represents the threshold of demarcation between expansion and contraction of the cycle. The composite index, on the other hand, fell to 53,7 from 53,9 in April.
Despite the slowdown compared to April, Phil Smith, economist at Markit, outlines an all in all auspicious picture for the Italian economy: "It continues to grow, with the strong probability that the increase in GDP in the second quarter could equal the increase of 0,3 .XNUMX% in the first three months of the year”.
The seasonally adjusted Markit PMI services index for the entire Eurozone, on the other hand, fell to 53,8 points in May from 54,1 in April. The composite production index was also down, at 53,6 against the 53,9 recorded in April.
