One more flex for the service sector in Italy. In January, theeighth consecutive monthly contraction, although the speed of the descent has decreased slightly. The PMI index seasonally adjusted on the tertiary sector elaborated by Markit and Adaci scored 44,8 points. The figure is up compared to 44,5 in December, but still remains below 50, the threshold that marks the boundary between expansion and contraction.
“In January, the components show more contained contractions for activity, new orders and employment – comments Phil Smith of Markit -. In addition, input prices and business expectations are rising”. The latter are recovering from the three-year low reached in December, but fears about the impact of the government's austerity remain.
Widening the gaze to the eurozoneServices activities stabilized in January, ending a four-month period of contraction. The PMI index rose to 50,4 points, compared to 48,8 in December. Germany is growing (to 53,7 from 52,4 in December and against 54,5 estimates) and France (to 52,3 from 50,3 and against 51,7). Bad, in addition to Italy, also Ireland and Spain.
