𝕏xIT first seen 18 d ago, last 16 d ago, peak #3

Italy's services growth slows sharply with weak PMI miss

Original: Italy (Services 51.7, Composite 51.0): The weakest prints of the session and a clear miss. Services slumped from 55.2 ag

Italy's services PMI fell to 51.7 in the latest reading, well below expectations of 54.5 and down from 55.2, while the composite index dropped to 51.0 from 53.6 against a forecast of 53.2. The figures mark the weakest prints of the session. Commenters note the economy is still expanding but momentum has slowed sharply, raising questions about the outlook for the eurozone's third-largest economy.

Why now: The unexpectedly weak PMI data is being flagged as the biggest miss in the latest round of eurozone economic releases.

ItalyHCOB PMI

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Evidence

• Italy (Services 51.7, Composite 51.0): The weakest prints of the session and a clear miss. Services slumped from 55.2 against expectations of 54.5, dragging the composite down to 51.0 from 53.6 against a 53.2 forecast. Italy is still expanding, but momentum has slowed sharply. · GryphonIAB · 1

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