Italy service sector growth rebounds in November – PMI

Growth in Italy’s service sector accelerated in November after slowing for three straight months, a survey showed on Tuesday, boosting prospects for continued expansion in the euro zone’s third-largest economy.

The Markit/ADACI Business Activity Index for services companies rose to 54.7 from 52.1 in October, moving further above the 50 mark that separates growth from contraction and beating all forecasts in a Reuters poll of 13 analysts.

Growth was underpinned by a rise in new orders at businesses from hotels to hairdressers, measured by a survey sub-index which rose to 54.3 from 52.1 in October.

Markit’s sister survey for the manufacturing sector released last week also strong growth, and the composite PMI for services and manufacturing combined climbed to 56.0 in November from 53.9 the previous month.
Source: Reuters (Editing by Hugh Lawson)

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