𝕏xIT first seen 16 h ago, last 16 h ago, peak #3

Italy's services growth misses forecasts sharply

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 previously. The composite index dropped to 51.0 from 53.6, also missing forecasts of 53.2. The data show Italy's economy still expanding, but with momentum slowing markedly, marking the weakest prints of the session among eurozone releases.

Why now: Traders and economists are reacting to weaker-than-expected Italian PMI data signalling a sharp slowdown in eurozone services momentum.

ItalyHCOB PMIeurozone

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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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