Italian service sector moves towards stabilisation in April

The Italian services economy was broadly stagnant at the start of the second quarter, with firms facing greater cost pressures. Only slight growth in overall new business was eked out in April amid the strongest fall in export sales in ten months. Uncertainty fuelled by war in the Middle East continued to weigh on the outlook and contributed to stronger cost pressures, indirectly limiting demand. Charge inflation cooled meanwhile in a sign that firms are absorbing the brunt of the elevated inflationary pressure. The headline S&P Global Italy Services PMI® Business Activity Index is based on a single question ...