Italian services PMI shrinks in September as costs skyrocket and economic uncertainty hurts demand

The Italian services sector contracted in September after growing slightly in August due to rising costs and economic uncertainty affecting customer demand.

According to S&P Global, the Purchasing Managers’ Index (PMI) for Italy’s service sector fell to 48.8 in September from 50.5 in August.

The PMI below 50 indicates a contraction in the service sector.

The composite PMI was 47.6 in September, down from 49.6 in August.

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