The services PMI index returns to growth in January in the Eurozone, in Italy there is a strong increase in new orders
The index Pmi dell’tertiary activity up 50.8 from 49.8 in December and beyond expectations at 50.7.
In Italy is at 51.2, up from 49.9 in December.
In France, service sector activity is seen to be declining, in Germania a 50,7, beyond estimates.
In January, Italy’s Purchasing Managers’ Index PMI for the services sector rose to 51.2 from 49.9 in December, marking the first increase in five months, according to data released by S&P Global. The composite index rose to 51.2 from 49.6.
“There was a return to growth for the service economy at the beginning of the year. The modest increase in production and the solid increase in new business volumes should ease recession fears. Companies continue to add staff in hopes that market conditions will continue to stabilise,” he explains Paul Smith, chief economic officer of S&P Global Market Intelligence. “The growth profile of the sector remains rather weak and fears about the strength of the recovery persist; the specter of inflation is still there and underlying inflationary pressures are feared to remain elevated for some time,” he adds.
What is the PMI index?
Il purchasing managers index (or PMI), is a economic indicator consisting of monthly reports and surveys, collected from private companies in the manufacturing sector. The index processes the data collected from surveys aimed at company purchasing managers, i.e. those who purchase materials intended for industrial production.
The PMI indices are used by investors to understand what purchasing managers think about the future of the manufacturing industry. The results can indicate what the future direction of the market will be.
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